TARGET GROUP | Junior to senior officials with some intermediate fiscal background who are interested in understanding and applying fiscal sustainability analysis and how it may relate to the country-specific macro-fiscal environment. Participants are expected to have a degree in economics or equivalent work experience and some familiarity with using spreadsheets. Before taking this course, it is strongly recommended that applicants first complete all (or at least some) modules of the online MOOC series on Debt Sustainability and Debt Management (DSMx).
DESCRIPTION | This two-week course, presented by the IMF’s Institute for Capacity Development, looks at fiscal sustainability as a requirement for macroeconomic stability and sustainable and inclusive long-term growth. It provides a thorough overview of how to assess fiscal sustainability from a policy and tools perspective. The course also discusses long-term fiscal pressures as well as fiscal risks and the early warning indicators used by the IMF and covers debt management strategies. Special attention is given to fiscal crises and the subsequent fiscal adjustments.
OBJECTIVES | Upon completion of this course, participants should be able to:
• Describe why fiscal sustainability is central to macroeconomic stability and sustainable growth
• Apply effective concepts, definitions, and techniques for analyzing fiscal sustainability
• Identify fiscal vulnerabilities, distinguishing between near-term risks and long-term pressures
• Analyze crisis and fiscal adjustment cases
• Differentiate various debt sustainability analysis (DSA) frameworks
• Prepare a risk-based DSA for a country with access to financial markets or for a low-income country