## The IMF Workshop on Debt Sustainability Framework in Low-Income Countries and Fund Policies

## Source details

**Canonical URL:** [The IMF Workshop on Debt Sustainability Framework in Low-Income Countries and Fund Policies](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2019/dsm-licct19-01)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ct/2019/dsm-licct19-01/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/ct/2019/dsm-licct19-01/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/ct/2019/dsm-licct19-01/bundle-manifest.json)

## Bibliographic details
- Session: CT 19.01
- Location: Dalian, China
- Dates: February 25, 2019 - March 6, 2019 (2 weeks)
- Primary language: English

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### Logistics and Course Identifiers
- Session No.: CT 19.01
- Location: Dalian, China
- Date: February 25, 2019 - March 6, 2019 (2 weeks)
- Primary Language: English

### Qualifications and Target Audience
- Qualifications
  - Participants should have a degree in economics or finance.
  - Experience with debt sustainability analysis, or credit risk analysis would be extremely useful.
- Target Audience
  - Officials in Eximbank or CDB directly involved in lending decisions (loan officers, credit risk analysts).
  - Officials in the PBoC engaged in designing swap arrangements in EMs/LICs.
  - Officials from NDRC, China Export and Credit Insurance Corp, CIDCA, and related agencies engaged in lending/aid.
  - Officials in the Ministries of Commerce, Foreign Affairs, and Finance overseeing lending/aid to EMs/LICs.
  - Officials from borrowing countries responsible for macroeconomic and fiscal/budget projections.

### Course Description and Educational Objectives
- Purpose
  - Presents a comprehensive overview of the tools available to assist with debt sustainability analysis, with a special focus on how to use them to assess cases where it is proposed that investment be scaled up.
  - Covers the global architecture for debt resolution, when this is necessary.
- Teaching methods
  - Lectures complemented by hands-on exercises using the IMF/WB debt sustainability templates.
  - Group work to consider scenarios and their implications for the evolution of debt vulnerabilities, and options to mitigate risks.

### Topics Covered (enumerated)
- Determination of a country's debt carrying capacity (both external and total debt).
- Checking forecasts for realism (with close attention to investment-growth linkages).
- Assessing contingent risks that exist due to gaps in data on total public debt.
- Examining risks posed by shocks (natural disasters, commodity prices, market exposures).
- Bringing in other factors that could influence debt outcomes (assets, private debt, etc).
- Categorizing risks for external and total debt, and qualifying them.
- Thinking about fiscal space for borrowing.
- The IMF's Debt limits policy and international agreements on structuring lending.
- How different approaches to financing investment could impact assessments.
- Thinking about sustainability.
- The process of private debt resolution.
- The process for resolution of official debt at the Paris Club.
- Creditor type and hierarchy.
- Typical solutions deployed by negotiators in restructuring situations.
- The IMF's policies when dealing with countries in a debt resolution situation, including:
  - the lending framework for exceptional access,
  - the financing assurance policy,
  - the lending into arrears policy.

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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/schedule/ct/2019/dsm-licct19-01_