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Legal Courses

Virtual : Legal Foundations of Public Debt Transparency - Towards Good Practices

Deadline passed

Session No.: AT 21.38V

Location: Ebene, Mauritius

Date: December 6-9, 2021 (1 week)

Primary Language: English

Interpretation Language: French Portuguese

    Target Audience

    Targeted government agencies include the Ministry of Finance, debt management offices, central banks, statistics agencies, President's or Prime Minister's Office, and supreme audit institutions.

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    Applicants are expected to be senior level qualified lawyers or other professionals with a background on advising ministries of finance or other state agencies on legal aspects of public debt policy making or on drafting legislation.

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    Course Description

    Debt transparency is fundamental to promote sustainable borrowing, lower borrowing costs, enable effective fiscal and debt management, facilitate risk assessments by creditors and debt workouts, and enhance accountability to parliament, and society at large, for the management of public debt. While important progress has been made in this field across jurisdictions, critical gaps remain. Moreover, the pandemic has exacerbated pre-existing debt vulnerabilities, particularly in low-income and developing countries, increasing the urgency to strengthen debt transparency.
    This training will present a detailed road map to identify the multi-faceted and complex legal issues in domestic frameworks that may hinder debt transparency efforts such as shortcomings in the legal definition of public debt, institutional and/or debt instrument coverage, unclear borrowing authority powers and delegation, inadequate governance arrangements for debt consolidation and disclosure, inexistent or weak reporting requirements, broad confidentiality contractual clauses without appropriate safeguards, and deficient accountability mechanisms. Participants will, through an interactive approach, learn about international good practices to address these vulnerabilities, including by analyzing case studies from the SSA region and potential reforms.

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