TARGET GROUP | Government officials working on subnational fiscal, taxation, and debt issues. World Bank staff are also invited to participate.
DESCRIPTION | Decentralization has granted subnational governments in developing countries spending, taxation and borrowing power. However, subnational fiscal insolvency and unsustainable debt structures can create significant contingent liabilities for federal/central governments, jeopardize sovereign ratings, and negatively impact growth. Thus, subnational finance's reform, sustainability and debt management are essential for growth and service delivery. This one-week course focuses on the financing side of the subnational fiscal system, such as: challenges and cutting-edge issues concerning the subnational taxation system; regulatory frameworks for subnational borrowing and debt management; and how subnational finance sustainability relates to a country's evolving intergovernmental fiscal system.