Sovereign Risk and Debt Sustainability Framework for Market Access Countries
Source details
- Canonical URL
- Sovereign Risk and Debt Sustainability Framework for Market Access Countries
Other formats
Bibliographic details
- Session: ST 24.28
- Location: Singapore, Singapore
- Dates: October 14-18, 2024 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed
Target audience and qualifications
- Target audience: Officials of Ministries of Finance and Debt Management Offices of countries that apply the Sovereign Risk and Debt Sustainability Framework for Market Access Countries.
- Qualifications:
- Expected to have a degree in economics or finance, or equivalent work experience.
- Good quantitative skills.
- Current job or responsibilities at work should be linked to the topic of the workshop.
- Participants' current responsibilities should be linked to the topic of the workshop.
Course description
- One-week course presenting the IMF's Sovereign Risk and Debt Sustainability Framework (SRDSF) for Market Access Countries (MACs) through presentations, discussions, and exercises.
- Purposes of the SRDSF:
- Guide countries' borrowing decisions to match their need for funds with their current and prospective ability to service debt, tailored to their specific circumstances.
- Help assess a country's vulnerability to sovereign debt-related stress and identify policies to prevent potential stress from materializing in a timely manner.
- Where public debt related stress has already materialized, help determine whether the stress can be resolved through a fiscal adjustment and/or additional financing, or if exceptional measures including a debt restructuring are needed.
- Course coverage:
- Theoretical foundations of the framework.
- SRDSF's forward-looking analysis of debt and debt service dynamics under a baseline scenario and in the context of plausible macroeconomic and financing shocks.
- Standardized outputs.
- Exercises and real-life case studies analyzing MAC SRDSF outputs.
- Exposure to key features of the Excel-based Sovereign Risk and Debt Sustainability Analysis (SRDSA) template in a guided manner (note: course focus is not mastery of the SRDSA template).
Learning outcomes and competencies
Upon completion of the workshop, participants should be able to:
- Explain the key inputs required to operationalize the SRDSF.
- Understand how standardized outputs of the SRDSA are broadly produced.
- Interpret standardized outputs including:
- the summary SRDSA table,
- debt structure charts,
- realism flags,
- stress tests,
- horizon-based and overall assessments.
- Apply effective concepts, definitions, and techniques for assessing sovereign debt risks.
- Exhibit satisfactory knowledge of the MAC SRDSF framework and toolkit.