Legal Aspects of Public Debt Management (2017)
Public debt management is a critical component of a country's development strategy. Debt managers are responsible for providing policy makers with accurate information on the country's debt burden and on its access to new funds. Without such information, policy makers cannot design and implement sustainable development policies, and the country runs an increased risk of experiencing balance of payments problems. Once the borrowing strategy is established and the funding sources are identified, debt managers are responsible for negotiating and structuring the borrower's debt transactions. They must also be able to administer loan agreements so that funds are disbursed and debt obligations are performed in a timely fashion. This course is intended to assist debt managers in better fulfilling the above sited functions and responsibilities, taking into careful consideration the ‘legal aspects’ of public debt management. This course will also expose participants to the centrality of the legal dimension in debt management and show that lawyers and non-lawyers need to work side-by-side in managing the public debt and borrowing of their respective countries, an approach which has often been neglected in developing countries and economies in transition in the past.
At the end of the course, the participants should be able to:
- Recognize the significance of the legal aspects of public debt management;
- Name the international sources of funds;
- Explain the process of national borrowing; and
- Summarize the phases of the loan cycle and necessary documentation for effective public debt management.
The course consists of the following modules:
- Module 1 Introduction to Debt Management
- Module 2 The National Borrowing Process
- Module 3 International Sources of Funds
- Module 4: International Financial Institutions
- Module 5: International Financial Techniques
- Module 6: Loan Agreements
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).
The intended audience includes senior and middle-level government officials, policy makers and decision makers (especially those coming from the ministries of finance, justice, economy, attorney general's offices, central banks, parastatals and major borrowers, public and private Banks including development banks; and university professors, lecturers, and researchers.
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.