## Quantitative Techniques for Debt Management (QDM)

## Source details

**Canonical URL:** [Quantitative Techniques for Debt Management (QDM)](https://www.imf.org/en/capacity-development/training/icdtc/courses/qdm)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/courses/qdm/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/courses/qdm/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/courses/qdm/bundle-manifest.json)

## Bibliographic details
- Published: July 24, 2025

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### Overview
- Training Program aimed to build capacity on key quantitative concepts in fixed income for debt managers, and for undertaking debt management operations.
- Designed to enable participants to improve their analysis of potential financing options and to evaluate the pricing of loans and securities.
- Helps debt managers understand relevant quantitative techniques in liability management operations, and options for developing and publishing yield curves when pursuing a benchmark issuance strategy.
- Topic: Financial Sector Issues

### Target Audience
- Officials from finance ministries, treasury departments, debt management offices, and central banks.

### Qualifications
- Participants are expected to have a degree in economics or finance, or equivalent experience, as well as at least two years of working experience in debt management.

### Course Objectives
Upon completion of this course, participants should be able to:
- Understand the characteristics of different debt management instruments in terms of their cashflows and be able to calculate price, yield, modified duration, and other metrics.
- Understand the difference between forward, spot and par yields and be able to build basic yield curves using fitting techniques in Excel.
- Understand how to actively manage the redemption profile with debt buybacks, reverse and switch auctions, including the pricing mechanics of such operations.
- Demonstrate a knowledge of other relevant financial instruments for a debt manager, including repo, interest rate and exchange rate swaps.

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## References

- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)
- [Macroeconomic Management in Resource Rich Countries (MRC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/mrcce26-44)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/courses/qdm_