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MTDSx

Medium-Term Debt Management Strategy (MTDSx)

Deadline passed

Session No.: OL 24.211

Location: Course conducted online

Date: May 1, 2024 - April 15, 2025 (50 weeks)

Delivery Method: Online Training

Primary Language: English

Target Audience

All government officials are welcome to register. This course is particularly useful for officials from debt management offices, treasury departments, ministries of finance, ministries of economy, central banks, and other government officials responsible for providing advice or implementing debt management policies.

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Qualifications

Some knowledge of economics is helpful. Basic Microsoft Excel skills and access to a computer with a reliable Internet connection and a Google Chrome web browser are essential.

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Course Description

This course is aimed at building capacity to develop a medium-term debt management strategy (MTDS), contributing to improved public debt management. It explains the joint International Monetary Fund-World Bank (IMF-WB) MTDS framework and provides comprehensive training on the accompanying analytical tool, MTDS AT. The MTDS AT is useful for analyzing quantitatively the cost-risk characteristics of an existing debt portfolio, as well as the cost-risk trade-offs of alternative financing strategies. Participants are taught how to develop financing strategies by taking account of  the composition of the existing debt portfolio, developments in key macroeconomic and market conditions, potential sources of financing, and linkages with broader medium-term macroeconomic framework, including debt sustainability.

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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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