Domestic Debt Management

One Week £ 1,900 | Two Week £3,500 | One Week ₦120,000

 

Effective debt management is essential for economic development. As countries develop they confront increasing challenges in managing public financial risk whilst still achieving their ambitious poverty reduction and economic growth targets. Building strong debt management institutions, developing clearly defined procedures and creating the capacity for rigorous analysis can help countries to manage these risks effectively, minimising the cost of borrowing and ensuring a sustainable debt position into the future.

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. This course is designed to develop the practical skills needed to manage government securities effectively. It will also cover the supporting infrastructure that needs to be in place for an efficient and liquid debt market.

  • Deficit financing, monetary and fiscal policy
  • The objectives of public debt management and the development of domestic financial markets
  • Debt strategy and optimal portfolio choice
  • Overview of domestic debt instruments
  • Bond mathematics, valuation and pricing
  • Building and interpreting a yield curve
  • Non-market debt (including arrears) and contingent liabilities
  • Primary and secondary markets, investor base and market infrastructure
  • Risk management including calculating measures such as duration and convexity
  • Options for restructuring domestic debt and their implications
  • Domestic debt sustainability

  • Explain the objectives, interdependencies and tensions of debt management, monetary and fiscal policies
  • Apply the lessons learnt from other countries in developing the domestic debt market
  • Apply mathematical techniques to analyse domestic instruments
  • Carry out basic risk calculations
  • Analyse securities and make informed recommendations on debt strategy and portfolio choice