Effective debt management is essential for economic development. Building strong debt management institutions, developing clearly defined procedures and creating the capacity for rigorous analysis can help countries to manage risks effectively, minimizing the cost of borrowing and ensuring a sustainable debt position into the future. Strong debt management can also encourage aid effectiveness. Accountability and governance can be increased by integrating public financial management and debt management under a comprehensive legal environment. This course provides an overview of public debt management by explaining concepts in a user-friendly language, avoiding mathematics and using simple illustrations and country examples. The objective of the course is to explain in layman's language -- based on UNITAR's considerable past experience and prior trainings -- concepts and techniques of public debt management. Besides overall concepts, this course will provide in-depth understanding of debt sustainability issues, an appreciation of public debt management in the budgetary context, explain facets of external and domestic public borrowings, and introduce participants to the meaning and implication of contingent liability and risk management. Successful completion of the course should equip the participants with conceptual clarity and basic skills leading to improved public debt management practices.
At the end of the course, the participants should be able to:
- Explain the concepts and techniques of public debt management;
- State the issues in, mechanics and clauses of, loan agreements;
- Express observations on debt sustainability issues;
- Explain facets of external and domestic public borrowings; and
- Determine the implications of contingent liability and risk management of PDMs.
The course consists of the following modules:
- Module 1: Public Finance and Debt Management
- Module 2: Preliminary Issues in Loan Agreements
- Module 3: The Commercial Provisions
- Module 4: Inter-Lenders Relationship and Control Clauses in Loan Agreements
- Module 5: The World Bank and the General Conditions Applicable to Loans
- Module 6: Guarantee Agreements and Currency Pools Loans
In order to ensure the best possible outreach, the course will be delivered through e-learning. Through a multiple-instructional setting, the goal is to achieve the learning objectives by means of learning technologies that match personal learning styles and by the inclusion of non-linear learning that aims at the development of just-in-time skills of adult learners. At the same time, in order to allow participants maximum flexibility of scheduling , the learning will be conducted in an asynchronous manner. Using a state-of-the-art training architecture, UNITAR will combine self-learning with assessments and online discussions. The pedagogy - adapted specifically to professionals in full-time work - will help train participants through various experiences: absorb (read); do (activity); interact (socialize); reflect (relate to one’s own reality).
Prospective applicants to this course may be from the public, private or the not for profit sectors of the economy of developing or developed countries. In terms of professional background they could be currently engaged in or be aspiring to practice in the external debt management field as lawyers, economists, accountants, administrators, or statisticians.
A certificate of completion will be issued by UNITAR to all participants who complete the course-related assignments and assessments successfully. Course schedule is subject to change. Course fee is non-refundable but transferrable to another course or participant and subject to change as per UNITAR's policy on pricing.