## Medium-Term Debt Management Strategy Framework

## Source details

**Canonical URL:** [Medium-Term Debt Management Strategy Framework](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2023/mtdsxol23-160)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ol/2023/mtdsxol23-160/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/ol/2023/mtdsxol23-160/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/ol/2023/mtdsxol23-160/bundle-manifest.json)

## Bibliographic details
- Session: OL 23.160
- Location: Course conducted online
- Dates: May 1, 2023 - April 15, 2024 (50 weeks)
- Delivery method: Online Training
- Primary language: English
- Status: Deadline passed

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### Target audience and qualifications
- Target audience: Officials from debt management offices, ministries of finance, or central banks who deal with public debt management.
- Qualifications: Participants are expected to have a degree in economics or finance, or equivalent experience.

### Course logistics
- Session No.: OL 23.160
- Delivery Method: Online Training
- Location: Course conducted online
- Primary Language: English
- Date: May 1, 2023 - April 15, 2024 (50 weeks)
- Deadline: Deadline passed
- Presented by: Monetary and Capital Markets Department

### Course description
- Purpose: Build capacity in developing and implementing a sound medium-term debt management strategy (MTDS).
- Framework taught: The joint IMF-WB MTDS framework.
- Focus areas:
  - Illustrating government cost and risk tradeoffs associated with different debt management strategies.
  - Managing the risk exposure embedded in a debt portfolio, in particular, the potential variation in debt servicing costs and its budgetary impact.
- Methodology:
  - Analyze cost-risk trade-offs of alternative debt management strategies using the MTDS analytical tool (MTDS AT) developed by the IMF and WB.
  - Take into account: composition of the debt portfolio, macroeconomic indicators, market conditions, potential sources of financing, and linkages with the broader medium-term macroeconomic framework.
  - Use a selected strategy to work on MTDS implementation with an annual borrowing plan template.

### Course objectives
Upon completion of this course, participants should be able to:
- Describe the steps in developing an MTDS (the IMF-WB MTDS framework).
- Analyze the central government debt portfolio to identify the costs and risks inherent in the existing debt.
- Formulate different market risk scenarios (baseline and shock scenarios), adapting them to the country’s specific situation.
- Identify and assess various financing strategies under these scenarios and compare the cost/risk trade-offs involved.
- Use the quantitative MTDS analytical tool that accompanies the MTDS framework.
- Present the results of the analysis in a manner that enhances its value for policy purposes.
- Formulate a strategy that is in line with debt management objectives.
- Design an annual borrowing plan for the first two years of the strategy period.

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## References

- [Online Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [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)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2023/mtdsxol23-160_