Sovereign Risk and Debt Sustainability Framework for Market Access Countries
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Bibliographic details
- Session: ST 26.22
- Location: Singapore, Singapore
- Dates: October 26-30, 2026 (1 week)
- Delivery method: In-person Training
- Primary language: English
Training program overview
- Title: Sovereign Risk and Debt Sustainability Framework for Market Access Countries (SRDSF-MAC)
- Status: Cancelled
- Session No.: ST 26.22
- Location: Singapore, Singapore
- Date: October 26-30, 2026 (1 week)
- Delivery Method: In-person Training
- Primary Language: English
Target audience and qualifications
- Target audience:
- Officials of ministries of finance and debt management offices of countries which apply the Sovereign Risk and Debt Sustainability Framework (SRDSF) for Market Access Countries (MACs).
- Qualifications:
- Participants are expected to have a degree in economics or finance or equivalent work experience, and good quantitative skills.
- Participants' current job or responsibilities at work should be linked to the topic of the workshop.
Course description and content
- Purpose:
- The course presents the IMF's Sovereign Risk and Debt Sustainability Framework (SRDSF) for Market Access Countries (MACs) through presentations, discussions, and exercises.
- Uses of the SRDSF (as taught in the course):
- Guide countries' borrowing decisions to match their need for funds with their current and prospective ability to service debt, tailored to their specific circumstances.
- Help assess a country's vulnerability to sovereign debt-related stress and identify policies to prevent potential stress from materializing in a timely manner.
- Where public debt related stress has already materialized, help determine whether the stress can be resolved through a fiscal adjustment and/or additional financing, or if exceptional measures including a debt restructuring are needed.
- Course coverage (participants are introduced to):
1. The theoretical foundations of the framework. 2. The SRDSF's forward-looking analysis of debt and debt service dynamics under a baseline scenario and in the context of plausible macroeconomic and financing shocks. 3. Standardized outputs.
- Learning methods:
- Participants work on exercises and real-life case studies and analyze MAC SRDSF outputs.
- While the focus is not on mastering the Excel-based Sovereign Risk and Debt Sustainability Analysis (SRDSA) template, participants are exposed to some of its key features in a guided manner.
Course objectives (learning outcomes)
Upon completion of the course, participants should be able to:
- Explain the key inputs required to operationalize the SRDSF.
- Understand how standardized outputs of the SRDSA are broadly produced.
- Interpret these standardized outputs including the summary SRDSA table, debt structure charts, realism flags, stress tests, and horizon-based and overall assessments.
- Apply effective concepts, definitions, and techniques for assessing sovereign debt risks.
- Exhibit satisfactory knowledge of the MAC SRDSF framework and toolkit.