Medium-Term Debt Management Strategy Framework

Source details

Training program presented by the Monetary and Capital Markets Department of the IMF.
Target audience: Officials from debt management offices, ministries of finance, or central banks who deal with public debt management.
Qualifications: Participants are expected to have a degree in economics or finance, or equivalent experience.
Delivery Method: Online Training
Primary Language: French
Session No.: OL 24.200
Location: Course conducted online
Date: May 1, 2024 - April 15, 2025 (50 weeks)
Deadline status: Deadline passed

The course builds capacity in developing and implementing a sound medium-term debt management strategy (MTDS).
Training covers the joint IMF-WB MTDS framework used to illustrate government cost and risk tradeoffs associated with different debt management strategies.
Emphasis on managing the risk exposure embedded in a debt portfolio, in particular the potential variation in debt servicing costs and its budgetary impact.
Participants analyze cost-risk trade-offs of alternative debt management strategies, utilizing the MTDS analytical tool (MTDS AT) developed by the IMF and WB.
Analysis takes into account:
- composition of the debt portfolio,
- macroeconomic indicators,
- market conditions,
- potential sources of financing,
- linkages with the broader medium-term macroeconomic framework.

Describe the steps in developing an MTDS (the IMF-WB MTDS framework).
Analyze the central government debt portfolio to identify the costs and risks inherent in the existing debt.
Formulate different market risk scenarios (baseline and shock scenarios), adapting them to the country’s specific situation.
Identify and assess various financing strategies under these scenarios and compare the cost/risk trade-offs involved.
Use the quantitative MTDS analytical tool that accompanies the MTDS framework.
Present the results of the analysis in a manner that enhances its value for policy purposes.
Formulate a strategy that is in line with debt management objectives.

IMF offers online training to government officials and the public as part of its capacity development activities.
Example training listings (for context within IMF training offerings):
- Core Elements of Banking Supervision (CBS): English (French, Portuguese) | January 18-29, 2027 | In-person Training | Ebene, Mauritius
- Advanced Government Finance Statistics (GFS-A): English (Arabic) | December 13-17, 2026 | In-person Training | Kuwait City, Kuwait
- Fiscal Sustainability (FS): English (Arabic) | November 9-20, 2026 | In-person Training | Abu Dhabi, United Arab Emirates
- Safeguards Assessments of Central Banks (SAC): English (French, Portuguese) | November 9-13, 2026 | In-person Training | Ebene, Mauritius