## Development of Medium-Term Debt Management Strategy (MTDS)

## Source details

**Canonical URL:** [Development of Medium-Term Debt Management Strategy (MTDS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/sa/2024/mtdssa24-37)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/sa/2024/mtdssa24-37/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/sa/2024/mtdssa24-37/index.json)
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## Bibliographic details
- Session: SA 24.37
- Location: New Delhi, India
- Dates: September 23-27, 2024 (1 week)
- Delivery method: In-person Training
- Primary language: English

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### Invitation and Logistics
- Session No.: SA 24.37  
- Location: New Delhi, India  
- Date: September 23-27, 2024 (1 week)  
- Delivery Method: In-person Training  
- Primary Language: English

### 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 Description
- Aim:
  - Build capacity in developing and implementing a sound medium-term debt management strategy (MTDS).  
- Framework and Tooling:
  - Training on the joint IMF-World Bank MTDS framework.  
  - Extensive use of the MTDS analytical tool (MTDS AT) developed by the IMF and World Bank.  
- Analytical focus:
  - Illustrate government cost and risk tradeoffs associated with different debt management strategies.  
  - Manage the risk exposure embedded in a debt portfolio, in particular, the potential variation in debt servicing costs and its budgetary impact.  
  - Take into account the composition of the debt portfolio, macroeconomic indicators, market conditions, potential sources of financing, and the linkages with the broader medium-term macroeconomic framework.  
- Format:
  - Lectures and hands-on exercises involving extensive work with country data.

### 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.

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## References

- [In-person 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/sa/2024/mtdssa24-37_