Debt Sustainability Framework for Low-Income Countries

Training Program

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Debt Sustainability Framework for Low-Income Countries

Apply online by August 14, 2026

Session No.: CE 26.29

Location: Kuwait City, Kuwait

Date: September 27, 2026 - October 1, 2026 (1 week)

Delivery Method: In-person Training

Primary Language: English

Interpretation Language: Arabic

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Target Audience

Government economists and public debt officials in low income and lower middle income countries, especially those working in: Ministries of Finance; Central banks; Debt management offices; Macro fiscal or budget departments who are or will be the primary users and counterparts in Low-income countries debt sustainability analyses.

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Qualifications

Participants should be economists or public officials with a background in macroeconomics or public finance who are currently involved in, or expected to work on, debt sustainability analysis for low income countries. They should have basic familiarity with macro fiscal and debt concepts, experience working with quantitative data and Excel based tools, and first successfully complete the LIC DSFx self paced course.

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Pre-requisites

Readings:International Monetary Fund, 2017, ""Review of the Debt Sustainability Framework for Low Income Countries: Proposed Reforms,"" IMF Policy Paper (Washington), September.https://wd5.myworkday.com/imf/email-universal/inst/21037$1898/rel-task/2998$33471.htmld---, 2018, ""Guidance Note on the Bank-Fund Debt Sustainability Framework for Low Income Countries,"" IMF Policy Paper (Washington), February.https://wd5.myworkday.com/imf/email-universal/inst/21037$1899/rel-task/2998$33471.htmldInternational Monetary Fund and The World Bank Group, 2020, ""User's Manual for the LIC-DSF Template,"" (Washington), March.https://wd5.myworkday.com/imf/email-universal/inst/21037$1900/rel-task/2998$33471.htmldInternational Monetary Fund, 2023, ""Are We Heading for Another Debt Crisis in Low-Income Countries? Debt Vulnerabilities: Today vs the pre-HIPC Era,"" IMF Working Paper 23/79 (Washington: International Monetary Fund).https://wd5.myworkday.com/imf/email-universal/inst/21037$1901/rel-task/2998$33471.htmldInternational Monetary Fund, 2024, ""Macroeconomic Developments and Prospects for Low-Income Countries-2024,"" IMF Policy Paper 2024/011 (Washington) March.https://www.imf.org/-/media/Files/Publications/PP/2024/English/PPEA2024011.ashx

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Course Description

The LIC DSF course is part of the Macro-Surveillance Series offered under the Internal Economics Training. This course, offered in a blended format, combines lectures and workshops in an integrated manner to explain the IMF-World Bank LIC DSF. The orientation session date will be determined at a later stage, which will introduce this blended course in a one-hour via MS Team meeting. The online self-paced learning in week one will introduce the Debt Sustainability Framework for Low-Income Countries (LIC DSF) through the edX online course LIC DSFx. Completing the LIC DSFx should take participants about 4-6 hours. The LIC DSFx provides an overview of the LIC DSF outputs, walking participants through the steps followed for constructing mechanical signals for the risk of debt distress. These lessons will help participants gain a solid foundation in debt sustainability that is critical for the second part of the course. Participants who have already completed the LIC DSFx (and present evidence of doing so) do not need to repeat the self-paced learning.The in-person workshop in week two will present an overview of the LIC DSF Excel template. Working with data for a hypothetical country, the workshop will discuss debt coverage, financing assumptions, debt carrying capacity, realism tools, stress tests, mechanical risk signals, the role of judgement, and risk ratings, including the coverage of climate-change related debt risks and public domestic debt vulnerabilities, which have become more prominent in recent years.

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Course Objectives

The training aims to strengthen participants' conceptual understanding and practical capacity to apply the LIC DSF, interpret debt distress risks, and engage effectively in debt sustainability analysis and policy dialogue in low income countries.

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Training Program

Debt Sustainability Framework for Low-Income Countries

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Course Description

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Course Objectives

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IMF’s Work

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

Debt Sustainability Framework for Low-Income Countries

Target Audience

Qualifications

Pre-requisites

Course Description

Course Objectives

Apply Now - Application deadline approaching:

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