Public debt is generated by budgetary imbalances, which are consequences of governmental policies endorsed by the legislative. However, imbalances are themselves fuelled by repayments of cumulative sovereign debt contracted in the past. Future policies and economic growth thus depend on the effectiveness of debt management. In addition to traditional external financing (bilateral, IBRD or other multilateral agencies), treasury auctions and the repurchase of government debts by sovereign funds open new perspectives and place the problem of debt management at the center of strategic development choices.

This training is rooted in this context and focuses on the mechanisms of T-Bonds auctions and on the analysis of real and concrete cases of sovereign debt management in developing or emerging countries.

Practical Objectives
» Understand the relations between economic aggregates, policies and sovereign debt growth.
» Facilitate communication between executives of various departments in charge of economy and finances, Central Banks and concerned ministries (transports, health, etc).
» Master the tools which make it possible to control, even reduce, the debt and its costs when feasible.

Seminar topics
» Aggregates, economic policies and sovereign debt
» Treasury bonds and/or international donors
» Real debt costs and determinants
» Exogenous shocks and sovereign debt

Download the detailed seminar contents here : 

Download free of charge :  Adobe Reader