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Fiscal Policy

Virtual : Workshop on Fiscal Risks

Invitation

Session No.: SA 21.41V

Location: New Delhi, India

Date: July 27, 2021 - August 2, 2021 (1 week)

Primary Language: English

    Target Audience

    Mid-level to senior government officials in ministries of economy and finance, treasuries, governmental accounting offices, and national-level fiscal planning bodies.

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    Qualifications

    Relevant experience in fiscal policy, management of fiscal risk, treasury management, or budgeting.

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    Course Description

    This workshop on fiscal risks includes training on fiscal risk management, tools available for ease of collection, analysis and transparency and preparation of a plan for implementation of fiscal risk management.  The workshop will include an overview of typical fiscal risks, including those created by the COVID-19 pandemic, their scale and relative importance, approaches for identifying and analyzing them and possible mitigation measures, including the role of fiscal rules in managing fiscal risks. The workshop will discuss standards for the disclosure of fiscal risks and the lessons from the IMF's fiscal transparency evaluations.

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Define fiscal risks and contingent liabilities and identify their key characteristics.
    • Identify the main fiscal risks a country may face and assess and prioritize these risks according to their relevance. (FRAT tool)
    • Identify approaches to analyzing macroeconomic risks and risks from specific sources, such as government credit guarantees, sub-national government, public sector undertakings, insurance programs and public-private partnerships.
    • Understand the benefits of a fiscal policy paper and statement of fiscal risk.
    • Identify institutional arrangements required for effective risk monitoring and management.
    • Understand the key components of a plan for implementing fiscal risk management.
    • Identify key institutions with fiscal risk responsibilities.
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