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Vulnerability Diagnostics (VDS)

Target Audience

Officials of all levels in central banks and ministries of finance who monitor and assess country and regional vulnerabilities and risks.


Participants are expected to have an advanced degree in economics or equivalent experience, a basic background in econometrics, and familiarity with the use of software for econometric applications.

Course Description

This course, presented by the IMF Institute for Capacity Development, complements the Macroeconomic Diagnostics (MDS) course by enhancing participants’ ability to assess fiscal, financial, and external vulnerabilities in an integrated fashion using several diagnostic tools to capture tail risks.


Course Objectives

Upon completion of this course, participants should be able to:

  • Identify appropriate measures of fiscal, financial, and external vulnerabilities.
  • Describe how vulnerabilities can morph into distress leading to crises as a result of adverse shocks or flawed policies.
  • Use diagnostic tools to track measures of vulnerabilities and predict indicators of tail risks, including tools currently employed in IMF surveillance.
  • Adapt diagnostic tools to their country data, organized as templates of country vulnerability reports.
Language: English
Application process: Please apply online


Oct 7, 2019
Oct 18, 2019
Course Number

Application Deadline

May 31, 2019