Virtual : DSA and IMF Policies Workshop
Source details
- Canonical URL
- Virtual : DSA and IMF Policies Workshop
Other formats
Bibliographic details
- Session: CT 22.17V
- Location: Beijing, China
- Dates: August 29, 2022 - September 9, 2022 (2 weeks)
- Delivery method: Virtual Training
- Primary language: English
- Status: New dates
Target audience
- Officials in ICBC, 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 other agencies engaged in lending/aid
- Officials in the Ministries of Commerce, Foreign Affairs, and Finance overseeing lending/aid to EMs/LICs
Course objectives and scope
- Present an overview of tools available to assist with debt sustainability analysis, with a special focus on assessing cases where debt is not sustainable and resolution is needed
- Cover the global architecture for debt resolution, when resolution is necessary
- Conduct the workshop in English only
Technical topics and analytical focus
- Determination of a country's debt carrying capacity (both external and total debt)
- Macro forecasting and 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)
- Incorporating 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 and different approaches to restoring 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 and the lending into arrears policy)
Methods, exercises, and learning activities
- 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
- Inclusion of a case study on a debt resolution
References