The island is poised to welcome finance officials from across the world for the 10th Small Countries Financial Management Programme.

This year there is expected to be 25 participants from 21 countries.

They comprise 15 women and 10 men.

Nine are from the Caribbean, eight from the Pacific region and eight from Africa and the Indian Ocean.

Tuvalu, a Polynesian island nation located in the Pacific Ocean, is expected to be the furthest distance from the Isle of Man and its representative will be travelling around 9,200 miles to get here.

Last year’s 24 participants journeyed about 133,000 miles to attend the programme.

Some 217 delegates from 30 countries have taken part in the programme over the last decade.

Executive director Mark Shimmin is putting the final touches and gearing up for the intensive fortnight-long programme for finance officials representing central banks, regulatory bodies and ministries of finance.

The first week’s action takes place in the island, first at the International Centre for Technology at the Nunnery, then at Fort Anne.

The second week sees participants fly off to Oxford and the Said Business School, University of Oxford.

Mr Shimmin says the delegates, who include one from Papus New Guinea, will be starting their treks to the island as early as today (Wednesday) and Thursday in time to be here for the start of the course next Sunday.

He told Business News he hopes the sparkling weather will continue but participants have been urged to bring along jumpers or warmclothing just in case!

Mr Shimmin, former chief financial officer for the Manx goverment, said the programme is ‘full on and ‘intensive’.

It is organised by the Small Countries Financial Management Centre, an Isle of Man charity established in June 2009.

The programme is recognised by international organisations such as the World Bank and the IMF and Mr Shimmin said it has undoubtedly boosted the island’s reputation.

Funding for the programme and the centre is provided by way of a grant from the Isle of Man Government’s international development budget, with the centre receiving £300,000 this year.

Mr Shimmin said: ‘The programme continues to be very well received and is going from strength to strength.

‘This is in large part due to the high quality of the teaching staff, both academic and practitioner.

‘However, none of that would be possible without the continued support the Centre receives from both government and the business community.’

Mr Shimmin praised Elaine Moretta, programme manager, who has been hard at work organising the final arrangements for the programme.

He also wanted to thank Philip Vermueulen at the Nunnery and the companies Cains and Dohle at Fort Anne for their help.

Those from the island offering their expertise during the programme include Nicola Guffogg, assessor of income tax at the Treasury and John Aspden MBE, the former chief exective of the island financial regulator.

Island resident Tim Cullen MBE, who was Mr Shimmin’s predecessor, is also playing his part.

And this year will also see the return of Professor Malcolm Sparrow from the Kennedy School of Government, Harvard University.

As well as the intensive study, it is also hoped participants will get to see some of the island on a tour. And another highlight will be a reception at Government House.

On the SCFMC website Treasury Minister Alfred Cannan extends a warm welcome to the visitors.

He says: ‘This initiative recognises the special challenges that all small countries face and brings together some of the world’s leading experts in financial management and regulation – both academics and practitioners – to help senior officials find new and successful approaches to addressing these difficult issues.

‘As a small prosperous country with strong traditions of government and economic management, we in the Isle of Man share the pride that all small countries feel in their resilience to forces often beyond their control.

‘We have also been buffeted by the winds of the financial storms of the past few years, and feel an even greater sense of solidarity with the small nations whose officials come to participate in the Small Countries Financial Management Programme.

‘Together, we can work towards a more prosperous future for all.’