## JOINT IMF FISCAL AFFAIRS DEPARTMENT, IMF INSTITUTE FOR CAPACITY DEVELOPMENT AND JOINT VIENNA INSTITUTE ONLINE WORKSHOP — UNDERSTANDING, ASSESSING AND MANAGING FISCAL RISKS — APRIL 26 – 30, 2021 ## Source details **Canonical URL:** [JOINT IMF FISCAL AFFAIRS DEPARTMENT, IMF INSTITUTE FOR CAPACITY DEVELOPMENT AND JOINT VIENNA INSTITUTE ONLINE WORKSHOP — UNDERSTANDING, ASSESSING AND MANAGING FISCAL RISKS — APRIL 26 – 30, 2021](https://www.imf.org/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/jvifiscalrisksprogram-april2021.pdf) ## Other formats - [Markdown version](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/jvifiscalrisksprogram-april2021.pdf.md) - [Structured JSON version](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/jvifiscalrisksprogram-april2021.pdf.json) --- ### Administrative items and delivery mode - Zoom Introductory Call: April 15, 2021, 1:30 p.m. Central European Time (CET) — testing the functionality of the Zoom platform on participants’ devices. - Pre-course quiz (20 min.): Accessible on the Moodle course page from 10:00 a.m., April 21st. - All times in the agenda are Vienna Local Time (CET). ### Workshop objectives and overarching themes - Introduce key concepts in fiscal risk identification, assessment, disclosure, and management. - Present international standards and good practices for fiscal risk transparency and disclosure. - Demonstrate analytic tools for assessing macro-fiscal risks, SOE risks, government guarantees, PPPs, and contingent liabilities. - Explore integration of fiscal risks into fiscal policy making, fiscal rules, and debt sustainability analysis. ### Monday, April 26 — Foundations and tools - 12:00 p.m. – 12:15 p.m. Introductions. - 12:15 p.m. – 12:45 p.m. L-1 Overview of Fiscal Risks — Mr. Jyoti Rahman - Introduction to key concepts. - Overview of sources and nature of fiscal risks. - Importance of understanding and managing risks. - Fiscal risk management cycle. - Role of sound institutions for managing fiscal risks. - 12:45 p.m. – 1:15 p.m. L-2 International Standards for Disclosing Fiscal Risks — Ms. Amanda Sayegh - IMF’s Fiscal Transparency Code. - Good practices in fiscal risk disclosure. - Preparing Fiscal Risk Statements. - Introduction to participants workshop W-2. - 1:30 p.m. – 3:00 p.m. L-3 Introduction to Fiscal Risk Assessment Tool — Mr. Fritz Bachmair - Introduction of the fiscal risk assessment tool. - Illustration of how the tool can be used in fiscal risk identification, analysis and management. ### Tuesday, April 27 — Macroeconomic and pandemic-related risks - 12:30 p.m. – 1:15 p.m. L-4 Approaches to Assessing Macroeconomic Risks — Mr. Jyoti Rahman - Main macroeconomic risks and channels through which they impact public finances. - Approaches to assessing macro-fiscal risks. - Illustrations of country practices in disclosing macro-fiscal risks. - 1:30 p.m. – 2:15 p.m. L-5 Assessing the Macro-Fiscal Risks of the COVID-19 Pandemic — Mr. Jyoti Rahman - Introduction to COVID-19 Fiscal Stress Test tool. - Use of the tool to support budget preparation. - 2:30 p.m. – 3:00 p.m. W-1 Discussion on Macro-Fiscal Risks — Led by Mr. Jyoti Rahman - Discussion of the main sources of macro-fiscal risks in participants’ countries. - Discussion of how risks are analyzed and disclosed in budget documentation. - Discussion of key challenges in assessing macro-fiscal risks encountered by participants. ### Wednesday, April 28 — State-owned enterprises, guarantees, and monitoring tools - 12:30 p.m. – 1:15 p.m. L-6 Assessing Fiscal Risks of State-Owned Enterprise (Part 1) – Overview — Ms. Avril Halstead - Understand fiscal risks arising from SOEs. - Approaches to assessing SOE fiscal risks. - Illustrations of country practices in disclosing risks. - Good practices for managing fiscal risks from SOEs. - 1:15 p.m. – 1:45 p.m. L-7 Assessing Fiscal Risks of SOEs (Part 2) — SOE Health Check Tool — Mr. Patrick Ryan - Presentation of the SOE Health Check Tool. - Information requirements for the tool. - How outputs can be used to monitor and disclose fiscal risks. - 2:00 p.m. – 3:00 p.m. L-8 Assessing and Managing Fiscal Risks of Government Guarantees — Ms. Amanda Sayegh and Mr. Patrick Ryan - Common approaches to identifying and assessing risks from government guarantees. - Approaches to managing and disclosing risks related to guarantees. - Introduction to key features of the IMF’s Guarantee and Loan Assessment Tool. ### Thursday, April 29 — Debt sustainability, PPPs, and disclosure practice - 12:30 p.m. – 1:15 p.m. L-9 Fiscal Risks and Debt Sustainability — Mr. Jyoti Rahman - Overview of the IMF’s DSA Framework. - Incorporating contingent liabilities shocks into debt sustainability analysis. - 1:30 p.m. – 2:15 p.m. L-10 Fiscal Risks and PPPs — Ms. Amanda Sayegh - Risks of PPPs and good practices for monitoring and managing them. - Introduction to key features of the IMF’s PPP Fiscal Risk Assessment Model (PFRAM). - 2:30 p.m. – 3:00 p.m. W-2 Country Practices in Fiscal Risk Disclosure — Facilitated by Ms. Amanda Sayegh - Participant presentation and discussion of country risk assessment and disclosure practices. - Discussion of key challenges encountered in assessing and reporting on fiscal risks. ### Friday, April 30 — Incorporating fiscal risks into fiscal policy and evaluation - 12:30 p.m. – 1:00 p.m. L-11 Incorporating Fiscal Risks into Fiscal Policy Making (Part 1) – Introduction to Fiscal Rules — Mr. Hamid Davoodi - Discussion of key concepts in fiscal rules. - Key elements of a fiscal rules framework. - 1:15 p.m. – 2:00 p.m. L-12 Incorporating Fiscal Risks into Fiscal Policy Making (Part 2) — Mr. Hamid Davoodi - Accounting for fiscal risks in setting debt limits. - Designing and implementing escape clauses. - 2:00 p.m. – 2:30 p.m. W-3 Discussion on Fiscal Rules and Incorporating Fiscal Risks into Policy Making. - 2:30 p.m. – 3:00 p.m. Final Quiz and Evaluation of the Course. --- _Source: https://www.imf.org/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/jvifiscalrisksprogram-april2021.pdf_