Responding to COVID-19: Mastering Cash & Debt Management Challenges

Wednesday, July 8

Mr. Emre Balibek and Mr. Yasemin Hurcan, both Senior Economists, PFM Division, Fiscal Affairs Department, IMF
Mr. Thordur Jonasson, Deputy Division Chief, and Mr. James Knight, Senior Financial Markets Expert, both Debt Capital Markets Division, Monetary and Capital Markets Department, IMF

On July 8, the JVI hosted the third webinar of a series focusing on the recent IMF special series on fiscal policies to respond to the COVID-19 challenges.

The financial and economic consequences of the COVID-19 pandemic are a particular challenge for cash and debt management offices around the world. Revenues are falling sharply with the recession, while unexpected emergency spending drives up governments’ financing requirements despite constrained access to financial markets and higher borrowing costs. COVID-19 has elevated the need for cash and debt managers to adopt a multi-pronged approach to cash management and to revise their debt management strategies and annual borrowing plans.

This webinar therefore discussed various approaches cash managers may pursue to meet challenging liquidity needs. The panelists were also sharing policy advice relevant for debt managers having to navigate volatile and dislocated markets. An active Q&A session focused on debt sustainability analysis, debt resolution and cooperation between cash and debt management divisions, proving the importance of the topic to the policymakers.

Emre Balibek and Yasemin Hurcan presented the IMF Fiscal Affairs Department’s special note on “Government Cash Management Under Fiscal Stress” (English / Russian)

Thordur Jonasson and James Knight presented the note “Debt Management Responses to the Pandemic” (English)

The webinar was opened by Thomas Richardson, JVI Director, Jason Harris, Deputy Division Chief of the PFM division of the IMF’s Fiscal Affairs Department, and Peter Breuer, Division Chief of the Debt and Capital Markets division of the IMF’s Monetary and Capital Markets Department.

Moderation was provided by Barbara Dutzler and Tatiana Evdokimova (both JVI).

Barbara Dutzler, Senior Economist, JVI


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