The island is set to host the 2023 Small Countries Financial Management Programme (SCFMP), an initiative that will welcome participants from all around the world.

A total of 26 officials representing finance ministries, central banks and regulatory bodies are set to arrive on the island this weekend from as far afield as the Caribbean, Pacific, Indian Oceans and Africa.

A spokesperson for the SCFMP says: ‘This education initiative looks to contribute to the sustainable growth and prosperity of small state economies through capacity building in financial regulation, management and leadership.’

Held over two weeks, sessions are already taking place at Harris Manchester College in Oxford, before it resumes next week in the island.

In addition to a full schedule of activities, this year’s event will also look to reflect on the contribution made by the island’s former Chief Financial Office Mark Shimmin MBE, executive director of the Small Countries Financial Management Centre (SCFMC), who sadly passed away in June.

Stephen Pickford, chairman of the SCFMC, said: ‘This year’s event will provide an opportunity to pay tribute to a highly competent, warm and decent man, and celebrate the lasting legacy of his work.’

The SCFMP provides the visiting officials with access to a range of practitioners and lecturers from Oxford University. The presenters cover topics such as debt sustainability, negotiation skills, leadership and regulatory improvement, while offering insights into how other small countries have tackled common problems.

Tim Cullen, founder of the SCFMC and Isle of Man-based board member, said: ‘The programme is unique in providing small countries with leadership, strategic management and negotiating skills that can help to support participants’ personal future development and facilitate positive change in their countries. Offering first-hand experience gives real meaning to the sessions.’