The Fund’s Training Program during the past year has continued with the increased number of participants and the broadened program which were noted in last year’s Annual Report. The main emphasis in the program has been divided among the work and policies of the Fund, the basic problems that arise in the promotion of economic development, and the potentialities and limitations of financial policies. A specialized course in the revised techniques for compiling balance of payments estimates, which continues to be made available to the staff of member governments who are actively engaged in this work, is closely related to the technical work of the Fund. Provision is also made in the program for statistical studies relating to national income accounting, flow of funds, and practical research methods for the analysis of economic statistics. All these studies are intended to help participants to prepare themselves for a broad range of research and advisory functions in central banks or finance ministries. The program has also proved helpful in making possible cooperative interchanges between the Fund and its members at both the technical and the policy level.