Training on Sovereign Asset and Liability Management

The sovereign balance sheet is very large and complex, and its management has enormous effects on an economy. Independent policies might lead to inefficiencies in terms of risk, cost and return mismatches in financial characteristics between assets and liabilities. Therefore, the Sovereign Asset and Liability Management (SALM) is a useful framework providing information to improve fiscal policies by capturing overall vulnerabilities and prospects. The development of sound practices for SALM can benefit governments and facilitate the implementation of a holistic approach to the management of their balance sheet and its risks, increasing their resilience to shocks.