Building Capacity for Better Public Debt Management: Two JVI Workshops Bring Together Practitioners from Across Emerging and Developing Economies

Course on Designing Government Debt Management Strategies

Course on Implementing Government Debt Management Strategies

The World Bank, in collaboration with the Joint Vienna Institute (JVI), successfully delivered two back-to-back training courses in Vienna in July 2026 aimed at strengthening government debt management capacity. The workshops brought together debt managers and central bank officials from a broad range of emerging and developing economies to deepen their knowledge of both the design and implementation of debt management strategies. The first course, Designing Government Debt Management Strategies, was attended by 28 participants representing 18 countries, while the second course, Implementing Debt Management Strategies, brought together 27 participants from 17 countries, with some participants attending both courses.

The first workshop, held on July 6-10, focused on strengthening participants’ analytical foundations for developing and updating medium-term debt management strategies. Through presentations, case studies, country presentations, and practical exercises, participants explored key topics including risk identification and management, the macroeconomic and market environment, and the evaluation of alternative borrowing strategies. Hands-on sessions provided participants with experience using quantitative tools to support debt management decisions, including cash-flow generation and the calculation of debt portfolio risk indicators. 

Building on this foundation, the second workshop, held on July 13-17, concentrated on the practical challenges of implementing debt management strategies. Participants examined how strategic objectives can be translated into operational domestic issuance plans and market actions. Key topics included analyzing alternative issuance strategies, designing issuance calendars, implementing liability management operations, developing investor bases for government securities, and establishing and operating primary dealer systems. Interactive case studies and practical exercises allowed participants to apply the concepts in realistic scenarios and exchange experiences from their own countries. 

A distinguishing feature of both courses was their strong emphasis on peer learning. Participants shared experiences and discussed common challenges faced by debt managers in increasingly complex domestic and international financing environments. These exchanges highlighted the importance of sound debt management practices in supporting governments’ financing needs, managing risks, and fostering the development of domestic government securities markets.

Together, the two workshops provided a comprehensive learning journey, covering the full spectrum from designing a debt management strategy to putting that strategy into practice. By combining analytical tools, practical applications, and cross-country knowledge sharing, the courses helped strengthen the capacity of debt managers to make informed borrowing decisions and improve the resilience of public debt portfolios. The strong participation and positive engagement from attendees underscore the continued demand for high-quality training and technical support in government debt management. 

The delivery of the two courses was supported by the World Bank Group’s Debt Management Facility (DMF), Government Debt and Risk Management (GDRM), and Joint Capital Markets Development (J-CAP) programs. 

Zsolt Bango, Senior Financial Sector Specialist, World Bank