Developing an Annual Borrowing Plan in line with the Debt Management Strategy

This course, delivered by the IMF’s Monetary and Capital Markets Department, jointly with WB’ Global Macro and Debt Unit, aims at building capacity in developing and implementing a sound medium-term debt management strategy (MTDS), through designing an annual borrowing plan (ABP). Officials are trained on the joint IMF-WB MTDS analytical tool (MTDS AT), which is useful for identifying the risk exposure embedded in a debt portfolio and analyzing the cost-risk trade-offs of alternative debt management strategies. Debt management strategies are formulated by taking into account the composition of the debt portfolio, macroeconomic indicators, market conditions, potential sources of financing, and the linkages with broader medium-term macroeconomic framework. Officials select a single debt management strategy (DMS) to design an annual borrowing plan and auction calendar, utilizing a new Annual Borrowing Plan (ABP) tool.