South Asia Regional Training and Technical Assistance Center (SARTTAC)

The South Asia Regional Training and Technical Assistance Center (SARTTAC) is a premier capacity-building institution established by the International Monetary Fund (IMF) to provide training, technical assistance, and policy support to countries in South Asia. It serves as a regional hub for strengthening macroeconomic management, public financial systems, and economic governance across member nations.
Headquartered in New Delhi, India, SARTTAC reflects the growing collaboration between the IMF and South Asian countries to promote sustainable and inclusive economic development through knowledge sharing and institutional strengthening.

Background and Establishment

SARTTAC was officially inaugurated on 13 February 2017 in New Delhi by the IMF Managing Director, Christine Lagarde, in partnership with the Government of India and other member countries.
It was established as part of the IMF’s global network of regional technical assistance centres (RTACs) and training institutes, which aim to decentralise the IMF’s capacity development efforts.
Member Countries:

• Bangladesh
• Bhutan
• India
• Maldives
• Nepal
• Sri Lanka

The creation of SARTTAC was funded jointly by:

• The Government of India (host country),
• The IMF, and
• Donor partners including the European Union (EU), United Kingdom (DFID), Republic of Korea, Netherlands, and Australia.

SARTTAC is the first IMF regional training centre to be fully financed by its member countries, marking a milestone in regional ownership of capacity development.

Objectives of SARTTAC

The centre’s main objective is to strengthen the institutional and human capacity of South Asian countries in the areas of economic management, fiscal policy, monetary policy, and financial regulation.
Key Objectives Include:

1. Providing high-quality training and technical assistance tailored to regional needs.
2. Enhancing the policy-making capabilities of government officials and central banks.
3. Supporting the implementation of macroeconomic and structural reforms.
4. Promoting regional cooperation and knowledge exchange.
5. Strengthening data and statistical systems for better policy formulation.

Areas of Focus

SARTTAC delivers assistance through specialised programmes in six major areas that align with the IMF’s core competencies:

1. Macroeconomic Analysis and Policy:
   • Strengthening understanding of macroeconomic frameworks, forecasting, and policy design.
2. Public Financial Management (PFM):
   • Enhancing budgeting, expenditure control, fiscal transparency, and debt management systems.
3. Revenue Administration:
   • Supporting tax administration reforms, improving compliance, and strengthening revenue mobilisation.
4. Monetary Policy and Operations:
   • Building capacity in central banking, monetary policy formulation, and liquidity management.
5. Financial Sector Supervision and Regulation:
   • Developing frameworks for banking supervision, risk assessment, and financial stability.
6. Macroeconomic Statistics:
   • Improving data accuracy, coverage, and alignment with international statistical standards (e.g., GDP, CPI, BOP).

These programmes are designed in consultation with member countries to ensure relevance and practical applicability.

Structure and Governance

SARTTAC operates under the governance framework of the IMF, with representation from its member countries and donor partners.
Organisational Structure:

• Director: Head of SARTTAC, responsible for overall management and coordination.
• Resident Advisors: Subject-matter experts who lead technical assistance in specific areas.
• IMF Technical Teams: Provide oversight, training materials, and evaluation support.

Governance Bodies:

1. Steering Committee:
   • Comprises representatives from member countries, the IMF, and donor partners.
   • Provides strategic direction and ensures alignment with national and regional priorities.
2. IMF Capacity Development Department (ICD):
   • Supervises the quality and delivery of training and technical assistance.

Training and Capacity-Building Activities

SARTTAC offers a wide range of training activities, including:

• Workshops and Seminars: Focused on macroeconomic policy, fiscal management, and financial stability.
• Hands-on Courses: Practical sessions involving data analysis, economic modelling, and forecasting tools.
• Customised Technical Assistance Missions: Targeted support to specific institutions such as ministries of finance, central banks, and national statistical offices.
• Regional Peer Learning Events: Facilitating cross-country knowledge exchange and policy dialogue.

The training is delivered in collaboration with IMF experts and regional specialists, using modern teaching methods and digital platforms.

Achievements and Impact

Since its establishment, SARTTAC has played a significant role in improving macroeconomic governance and institutional capacity across South Asia.
Key Achievements Include:

• Conducted hundreds of training programmes involving over 10,000 officials from member countries.
• Supported the implementation of medium-term fiscal frameworks and tax administration reforms.
• Assisted in developing inflation forecasting and monetary policy frameworks in central banks.
• Improved the quality of national accounts, government finance, and external sector statistics.
• Enhanced cooperation among South Asian policy institutions through joint forums and regional dialogues.

The centre’s work has directly contributed to stronger fiscal discipline, data reliability, and economic resilience in the region.

Collaboration and Partnerships

SARTTAC collaborates closely with:

• National Institutions: Ministries of Finance, Central Banks, and Statistical Agencies of member countries.
• International Development Partners: Donors like the EU, UK, and Australia support capacity development initiatives.
• Other IMF Regional Centres: Such as the IMF Singapore Regional Training Institute (STI) and Middle East Regional Technical Assistance Center (METAC).

This collaborative approach ensures coherence between regional priorities and global economic standards.

Significance for South Asia

SARTTAC holds immense significance for the South Asian region, which represents one of the fastest-growing yet most diverse economic areas globally.
Importance of SARTTAC:

• Promotes regional economic integration through shared learning.
• Strengthens policy formulation and implementation capacity.
• Enhances macroeconomic stability and resilience against global shocks.
• Supports inclusive growth by improving fiscal management and governance.
• Serves as a platform for dialogue on sustainable development and economic cooperation.

Future Outlook

Moving forward, SARTTAC aims to:

• Expand its digital learning and remote training programmes.
• Support climate-related financial policies and green budgeting.
• Assist in post-pandemic economic recovery planning.
• Deepen cooperation in data analytics, fintech, and public sector reforms.