Participants are expected to have a degree in economics or finance or equivalent work experience, and good quantitative skills. Participants current job or responsibilities at work should be linked to the topic of the workshop.
Deadline passed
Session No.: ST 24.28
Location: Singapore, Singapore
Date: October 14-18, 2024 (1 week)
Delivery Method: In-person Training
Primary Language: English
Officials of Ministries of Finance and Debt Management Offices of countries that apply the Sovereign Risk and Debt Sustainability Framework for Market Access Countries. Participants are expected to have a degree in economics or finance, or equivalent work experience, and good quantitative skills. Participants' current responsibilities should be linked to the topic of the workshop.
This one-week course presents the IMF's Sovereign Risk and Debt Sustainability Framework (SRDSF) for Market Access Countries (MACs) through presentations, discussions, and exercises. The SRDSF can guide countries' borrowing decisions to match their need for funds with their current and prospective ability to service debt, tailored to their specific circumstances. The framework can 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, the framework can 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. The course will introduce participants to (1) the theoretical foundations of the framework, (2) the 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, and (3) standardized outputs. Participants will work on exercises and reallife case studies and analyze MAC SRDSF outputs. While the focus of the course is not on mastering the Excel-based Sovereign Risk and Debt Sustainability Analysis (SRDSA) template, participants will be exposed to some of its key features in a guided manner.
Upon completion of this 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 these standardized outputs including the summary SRDSA table, debt structure charts, realism flags, stress tests, and 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.
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