TARGET GROUP | Junior to senior officials with some intermediate fiscal background who are interested in understanding the principles of public debt dynamics and fiscal adjustment paths. Participants are expected to have a degree in economics or equivalent work experience and some familiarity with using spreadsheets.
DESCRIPTION | This course, presented by the IMF´s Institute for Capacity Development, looks at fiscal sustainability in a practical, hands-on way in a post-COVID world. It applies the newly developed Excel-based public Debt Dynamics Tool (DDT) to project public debt, compute fiscal adjustment paths, perform pre-defined and tailor-made stress tests, and present results in a standardized format. The course also discusses indicators of debt sustainability and risks of debt distress and includes long-term fiscal pressures.
OBJECTIVES | Upon completion of this course, participants should be able to: Compute public debt dynamics (i.e., the evolution of public debt over time) under a baseline and alternative scenarios. Identify the main drivers of public debt changes. Discuss fiscal vulnerabilities, distinguishing between near-term risks and long-term pressures. Compute and assess fiscal adjustment measures to achieve a public debt target. Differentiate between various debt sustainability analysis (DSA) frameworks. Understand and use the DDT to analyze public debt dynamics developments in their own country.