Fiscal Policy, Debt & Regional Integration
FDMRIP 01-R: Regional Course on Fiscal Frameworks and Sustainability.
Date: March 17 – 21, 2025
Duration: 5 Days
Venue: Virtual
Background
Economies across developing countries, including WAIFEM member countries, share common challenges: volatile commodity markets, ambitious development goals, and the constant need for prudent borrowing to avoid debt distress. Accordingly, sound fiscal management and sustainable fiscal policies are critical for achieving macroeconomic stability, promoting inclusive growth, and ensuring the well-being of citizens. Effective fiscal frameworks, therefore, can foster fiscal sustainability, unlock growth potential, reduce poverty, and build resilience against external shocks.
This regional virtual course aims to enhance the capacity of policymakers and practitioners to design, implement, and evaluate fiscal frameworks that are resilient to external and domestic shocks.
Objectives
- Participants will gain a comprehensive understanding of different types of fiscal frameworks, such as fiscal rules, medium-term expenditure frameworks, and fiscal responsibility laws, and their effectiveness in ensuring fiscal discipline and sustainability.
- The course will equip participants with tools and techniques to assess fiscal sustainability, including debt sustainability analysis, fiscal stress tests, and generational accounting.
- Participants will learn about best practices in designing and implementing fiscal frameworks, including setting appropriate fiscal targets, establishing effective monitoring and enforcement mechanisms, and ensuring transparency and accountability.
- The course will create a platform for dialogue and exchange among participants from different countries within the region, promoting collaboration and knowledge sharing on fiscal policy issues.
Target Audience:
The course is designed for mid- to senior-level officials from ministries of finance, planning commissions, budget offices, central banks, and other relevant government agencies involved in fiscal policy formulation and implementation.
Course Content:
- Fiscal frameworks and macroeconomic management
- Overview of different types of fiscal frameworks, their rationale, design, theoretical underpinnings, and advantages and limitations.
- Analysis of fiscal risks and fiscal sustainability
- Fiscal frameworks and public financial management(PFM)
- Assessment of fiscal sustainability using various methodologies, including debt sustainability analysis, fiscal stress tests, and generational accounting.
- Monitoring of fiscal policy by independent institutions
- Setting appropriate fiscal targets, choosing the right type of fiscal rule, and establishing effective monitoring and enforcement mechanisms.
- Link fiscal policy with strategic planning, align expenditure with national priorities and improve budget credibility.
- Strengthen fiscal discipline, enhance transparency and accountability, and promote sound fiscal management practices.
- Fiscal rules for sub-national governments (SNGs)
- • Effectiveness of fiscal Frameworks
- Fiscal frameworks and sustainability in West African countries
- Implementing fiscal frameworks and the political economy context
- Case studies of fiscal frameworks: Examining successful and less successful experiences with fiscal frameworks worldwide, drawing lessons and insights for the WAIFEM region.
- Addressing challenges and opportunities for fiscal sustainability: revenue mobilisation, expenditure control, public debt management, fiscal risks, and the impact of economic shocks.
Methodology
The virtual course will combine lectures, presentations, case studies, group discussions, and interactive exercises. Experienced practitioners and experts in the field will serve as resource persons.
Expected Outcomes:
Upon completion of the course, participants will be able to (a) Confidently assess the fiscal sustainability of their countries, (b) Design and implement effective fiscal frameworks that promote fiscal discipline and sustainability, (c) Evaluate the effectiveness of existing fiscal frameworks and identify areas for improvement, (d) Foster regional cooperation and knowledge sharing on fiscal policy issues.
FDMRIP 02-R: Regional Course on Economic Issues on Regional Integration
Date: April 7 – 11 2025
Duration: 5 Days
Venue: Monrovia, Liberia
Background
Regional integration is vital in fostering economic growth, development, and living standards. It enhances trade, investment, and cooperation among regional countries, leading to greater prosperity and shared benefits. This regional course aims to equip participants with a comprehensive understanding of the economic dimensions of regional integration, enabling them to analyse its potential benefits and challenges and formulate effective policies and strategies to maximise its positive impact.
Objectives:
- • Participants will gain a thorough understanding of the theoretical underpinnings of regional integration, including its various forms and models and the economic rationale behind it.
- • The course will examine the empirical evidence on the effects of regional integration on key economic indicators, such as trade flows, foreign direct investment, productivity, and economic growth.
- • Participants will explore the potential obstacles and risks associated with regional integration, such as trade diversion, loss of policy autonomy, uneven distribution of benefits, and the opportunities it presents for deeper economic cooperation and integration.
- • The course will provide participants with the tools and knowledge necessary to design and implement effective policies and strategies that promote regional integration and address its challenges.
- • The course will create a platform for dialogue and exchange among participants from different regional countries, promoting collaboration and knowledge sharing on regional integration issues.
Target Audience:
The course is designed for mid- to senior-level officials from ministries of finance, trade, industries, employment, central banks, and stakeholders involved in policymaking or research related to regional integration
Course Content:
- Overview of different integration models (free trade area, customs union, common market, economic union), economic integration theories, and institutions’ role in regional integration.
- The impact of regional trade agreements on trade flows, creation and diversion, rules of origin, trade facilitation, and the interaction between regional and multilateral trade systems.
- The effects of regional integration on foreign direct investment, investment liberalisation, investment promotion, and the role of regional investment agreements.
- Empirical evidence on the relationship between regional integration and economic growth, productivity, competitiveness, and convergence
- Addressing issues such as trade diversion, loss of policy autonomy, uneven distribution of benefits, regulatory harmonisation, dispute settlement, and the role of regional institutions
- Designing and implementing effective policies and strategies for trade liberalisation, investment promotion, regulatory harmonisation, and institutional cooperation
- Case studies of regional integration: Examining successful and less successful cases of regional integration from around the world, Africa and the West African sub-region, drawing lessons and insights for the region
Methodology:
The course will combine lectures, presentations, case studies, group discussions, and interactive exercises. Experienced practitioners and experts in the field will serve as resource persons.
Expected Outcomes:
Upon completion of the course, participants will be able to (a) Confidently analyse the economic dimensions of regional integration, (b) Design and implement effective policies and strategies to promote regional integration, (c) Identify and address the challenges and opportunities associated with regional integration, (d) Foster regional cooperation and networking on regional integration issues.
FDMRIP 03-R: Regional Course on Debt Management (External and Domestic), Subnational Debt Management and Loan Negotiation.
Date: May 5 – 9, 2025
Duration: 5 days
Venue: Lagos, Nigeria
Background
Effective debt management is critical for efficient macroeconomic management and a sustainable debt portfolio. However, most developing countries, including WAIFEM member countries, face significant challenges in analysing and managing external and domestic debt and subnational debts in federal countries. These challenges include substantial external debt burdens, often leading to debt distress, high domestic debt levels that can undermine fiscal sustainability, and limited subnational government-level capacity to manage their debt effectively, resulting in economy-wide complications in macroeconomic management. Furthermore, many government officials lack the skills and expertise to negotiate favourable loan and debt restructuring terms.
Recognising these challenges, WAIFEM seeks to equip public officials with the skills and knowledge to analyse the creditor landscape and types of financing, undertake risk assessment, and use legal, financial, and technical frameworks and analysis to secure favourable loan and restructuring terms for external, domestic, and subnational debt.
Objectives
- • Provide participants with a comprehensive understanding of external and domestic debt management concepts, strategies, and best practices.
- • Equip participants with the technical skills required for effective external and domestic debt portfolio analysis, planning, and monitoring, empowering them to make informed decisions in their roles.
- • Develop participants’ negotiation skills and knowledge of loan terms, conditions, and legal frameworks.
- • This course also addresses the unique challenges of subnational debt management. It’s designed to foster coordination between national and subnational governments, ensuring a comprehensive approach to debt management.
- • Create a platform for participants to share experiences, exchange ideas, and learn from each other, fostering a sense of collaboration.
Target Audience:
The training programme is designed for government officials from Finance Ministries, Debt Management Offices, central banks, Subnational Governments, and other stakeholders involved in debt management.
Course Content:
- Key concepts and players in the sovereign borrowing process.
- Fundamental principles of sovereign debt
- The applicable legal framework to sovereign debt
- Introduction to credit facilities and principal documentation
- Introduction to bond issuances: process and principal documentation
- Yield curve management and pricing
- Investor relations and communication
- Understanding risks and challenges
- Fiscal federalism and intergovernmental fiscal relations
- Subnational borrowing and debt limits
- Coordination and oversight mechanisms
- Case studies and sound practices in sub-national debt management
- Preparation and negotiation planning
- Negotiation tactics and techniques
- Contractual terms and conditions
- Introduction to dispute resolution in sovereign debt
- • Sovereign debt in the WAIFEM member countries- Case Study of Ghana.
Training Methodology
The training will employ various interactive methods, including lectures, presentations, group discussions, case studies, simulations, and practical exercises.
Resource Persons
Experienced debt management practitioners and financial and legal experts with expertise in external debt, domestic debt, subnational debt, and loan negotiation from the West African sub-region will serve as resource persons for the training.
Expected Outcomes
- Increased knowledge and understanding of debt management principles and practices
- Enhanced technical skills in debt analysis, planning, monitoring, and reporting
- Improved capacity in loan negotiation and debt restructuring.
- Strengthened collaboration and coordination between national and subnational governments
- Increased awareness of the importance of sound debt management for macro-fiscal stability.
FDMRIP 04-R: Regional Course on Public Sector Debt Statistics, Government Securities Markets and Transparency.
Date: May 19 – 23, 2025
Duration: 5 Days
Venue: Freetown, Sierra Leone
Background
The global financial landscape is fast evolving, with public debt and government securities markets playing increasingly crucial roles. In this context, Robust debt statistics provide the foundation for informed decision-making, effective risk management, and accountability. At the same time, transparent and efficient government securities markets are crucial for mobilising resources, managing liquidity, deepening the financial markets, and signalling economic policy direction. This has created a pressing need for debt managers who deeply understand the intricacies of these markets and the vital importance of transparency in these domains to engender investor confidence, macroeconomic stability, and growth.
This regional course aims to enhance the capacity of public sector officials in compiling, analysing, and disseminating public sector debt statistics while fostering a deeper understanding of government securities markets and the importance of transparency. It will ultimately contribute to more effective debt management practices and well-functioning securities markets.
Objectives of the course
- • Participants will gain a comprehensive understanding of the conceptual framework, definitions, and methodologies for compiling PSDS in accordance with international standards.
- • The course will equip participants with tools and techniques to analyse public debt sustainability, risks, and vulnerabilities.
- • Participants will gain insights into the functioning of primary and secondary markets for government securities, including issuance mechanisms, trading practices, and pricing dynamics.
- • The course will emphasise the importance of transparent reporting of public debt data, including timely disclosure of debt statistics, issuance calendars, and auction results.
- • The course will create a platform for networking and knowledge sharing among participants from different countries, facilitating regional debt management and market development cooperation.
Target Audience
The course is designed for mid- to senior-level officials from ministries of finance, central banks, debt management offices, and statistical agencies who are involved in compiling, analysing, or managing public sector debt. It will also benefit market participants such as primary dealers, brokers, and investors in government securities.
Course Content
- Overview of international standards and guidelines, including the IMF’s Public Sector Debt Statistics Guide and the World Bank’s Debt Statistics Manual.
- Classification of debt instruments, institutional coverage, valuation methods, and accounting principles.
- Identification of relevant data sources, data collection procedures, reconciliation of data, and compilation techniques.
- Assessment of debt sustainability, risk indicators, stress testing, and debt restructuring options.
- Overview of market structure, issuance mechanisms, primary dealers, trading platforms, yield curve analysis, and risk management.
- Best practices for transparency and disclosure: reporting debt data, issuance calendars, auction results, and investor relations.
- Country experiences in debt management, market development, and transparency initiatives.
- Group exercises and discussions: Interactive sessions to apply concepts, solve problems, and exchange ideas.
Methodology
The course will combine lectures, presentations, case studies, group exercises, and discussions. Experienced practitioners and experts in the field will serve as resource persons. Expected Outcomes
Upon completion of the course, participants will be able to: (a) Confidently apply international standards in compiling PSDS, (b) Critically analyse public debt sustainability and risks, (c) Understand the functioning of government securities markets, (d) Implement best practices in transparency and disclosure, (e) Establish networks with peers from other countries.
FDMRIP 05-R: Joint IMF/WB/WAIFEM Regional DeMPA Training for West Africa.
Date: TBA, 2025
Duration: 5 days
Venue: Banjul, The Gambia
Background
Sound debt management is crucial for macroeconomic stability and economic growth. The Debt Management Performance Assessment (DeMPA) is a diagnostic tool developed by the World Bank to evaluate debt management practices at both national and sub-national levels and identify areas for improvement. It helps facilitate informed discussions, guides reforms, encourages donor coordination and tracks progress. Notably, it allows countries to benchmark their practices against sound practices and standards.
This training programme aims to equip participants with the knowledge and skills to conduct DeMPA assessments effectively, contributing to enhanced debt management capacity and improved fiscal outcomes.
Objectives
- Familiarize participants with the conceptual framework, methodology, and indicators of DeMPA.
- Develop practical data collection, analysis, and reporting skills for conducting DeMPA assessments.
- Enhance participants’ ability to identify strengths and weaknesses in debt management practices using DeMPA results.
- Equip participants with the skills to formulate actionable recommendations for improving debt management based on DeMPA findings.
- Foster a collaborative learning environment for participants to share experiences and learn from each other
Target Audience
The training is designed for mid-career and senior-level government officials working in WAIFEM countries’ Ministries of Finance and Economic Development, central banks, Debt Management Offices and other stakeholders involved in public debt management.
Course Content
The training will cover the following key areas:
- Introduction to DeMPA: Overview of DeMPA, its objectives, and benefits
- DeMPA Framework and Methodology: Detailed explanation of DeMPA pillars, indicators, and scoring system
- Data Collection and Analysis: Guidance on data sources, collection methods, and analysis techniques
- Reporting and Presentation: Instructions on preparing comprehensive DeMPA reports and presenting findings effectively
- Case Studies and Practical Exercises: Real-world examples and hands-on exercises to apply DeMPA concepts and tools
- Action Planning and Implementation: Develop strategies to implement DeMPA recommendations and monitor progress
Methodology
The training will employ a blended approach, combining interactive lectures, group discussions, case studies, practical exercises, and peer learning activities.
Resource Persons
Expert World Bank, IMF, and WAIFEM facilitators will lead the sessions, providing real-world insights and guidance.
Expected Outcomes
By the end of the training, participants will (a) have a solid understanding of the DEMPA Tool and its application in assessing debt management performance, (b) be equipped with practical skills to design and implement a debt management reform programme, and (c) have established a network of debt management professionals in WAIFEM member countries for ongoing knowledge sharing and collaboration.
FDMRIP 06-R: Joint IMF/World Bank/WAIFEM Regional Medium-Term Debt Management Strategy (MTDS) Training for Africa.
Date: TBA, 2025
Duration: 5 Days
Venue: Accra, Ghana.
Background
Effective debt management is crucial for sustainable economic growth and development. A well-formulated Medium-Term Debt Management Strategy (MTDS) helps countries manage their debt portfolios by outlining a plan to achieve a desired composition of the public debt, considering cost and risk trade-offs. In WAIFEM member countries, many economies face challenges related to high debt levels, external and domestic shocks, and fiscal and debt vulnerabilities. A robust MTDS is essential to guide future borrowings and maintain fiscal and debt sustainability.
Objectives
This training, jointly organised by the World Bank, International Monetary Fund (IMF), and WAIFEM, aims to enhance the capacity of debt managers in the region to design and implement effective MTDS. The primary objective of this training is to provide participants with comprehensive knowledge and practical skills in designing and implementing an MTDS.
Specific objectives include (a) Understanding the principles, objectives and importance of MTDS, (b) Learning the analytical tools and methodologies for developing an MTDS, (c) Identifying the linkages between the debt portfolio and the characteristics of new financing, (d) Formulating and evaluate alternative strategies, including proposing the preferred strategy for the approval of the authorities (e) Exploring best practices in debt management and strategy implementation, (f) Enhancing the capacity to assess cost and risk trade-offs in debt portfolios, and (g) Using the knowledge gained during the training to prepare debt management strategies and a borrowing plan in their respective countries, and (h) Promoting regional cooperation and knowledge-sharing in debt management
Target Audience
The training is designed for mid-to senior-level officials from Ministries of Finance, central banks, Debt Management Offices, and other relevant public sector institutions involved in public debt management
Course Content
The training will cover the following key topics:
- Overview of public debt management and its importance;
- Key concepts and objectives of a Medium-Term Debt Management Strategy;
- Understanding the analytical tools for MTDS development.
- Assessing the macroeconomic and market environment. (fiscal policy, monetary policy, the balance of payments, and the real sector);
- Analysis of longer-term structural factors and their implications for MTDS;
- Debt sustainability analysis and its integration with MTDS;
- Identifying and measuring cost and risk indicators;
- Analyzing the cost-risk trade-offs in debt portfolios,
- Scenario analysis and stress testing;
- Steps in developing an MTDS;
- Setting strategic benchmarks and targets;
- Formulating debt management policies and strategies;
- Formulation of alternative strategies and ranking their performance;
- MTDS Report Template, Institutional arrangements, and governance structures.
- Coordination with fiscal and monetary policies.
- Monitoring, evaluation, and reporting.
- Addressing common challenges and pitfalls.
Methodology
The training will utilise a mix of instructional techniques, including (a) Lectures by subject matter experts covering theoretical and practical aspects, (b) Real-world examples to illustrate key concepts and practices, (c) Facilitated sessions to encourage peer learning and exchange of ideas, (d) Hands-on activities to apply learned concepts in practical scenarios, and (e) Report writing
Also, the course will provide practical training sessions to strengthen the knowledge and skills of the participants. The exercises will cover (a) Essential Excel functions for the preparation of public debt data, (b) Calculation of debt cost and risk exposure indicators, and (c) Analysis of the Yield Curve and projected exchange rates
Expected Outcomes
By the end of the training, participants will (a) Gain a thorough understanding of the principles and methodologies for developing an MTDS, (b) Acquire practical skills for analysing cost and risk trade-offs in debt portfolios and formulating alternative strategies, (c) Enhance their ability to design and implement effective debt management strategies, (d) Foster regional cooperation and knowledge-sharing in debt management practices.
Resource Persons
The training will feature experienced professionals from the World Bank, IMF, and the WAIFEM faculty with extensive expertise in public debt management and MTDS development.
FDMRIP 07-R: Regional Course on Public Financial Management and Taxation.
Date: June 23 – 27, 2025
Duration: 5 Days
Venue: Virtual.
Background
WAIFEM member countries are grappling with numerous challenges in effectively mobilising the required resources to support their development processes. In recent years, financial flows to these countries have been volatile, increasing the need for enhanced domestic resource mobilisation and efficient utilisation to ensure sustainable funding of development projects and programmes. Against this backdrop, effective public financial management (PFM) framework which incorporates robust taxation systems are fundamental for any country’s sustainable development
Efficient PFM ensures that public resources are mobilised, allocated, managed, and accounted for to maximise their impact on economic and social development. At the same time, an efficient taxation system is critical for generating the resources required to finance public investments and services delivery.
Objectives
This course aims to enhance participants’ understanding of PFM principles and taxation systems, focusing on policy development and implementation strategies to strengthen fiscal governance in the WAIFEM countries. The primary objective is to provide participants with comprehensive knowledge and practical skills related to PFM and taxation systems.
Specific objectives include (a) Understanding the key components and principles of PFM, (b) Learning about the design and administration of effective tax systems, (c) examining the interrelationship between PFM and taxation in achieving fiscal sustainability, (d) enhancing capacity to develop and implement PFM and tax policies, and (e) Sharing best practices and lessons learned from regional and international experiences.
Target Audience
The course is designed for mid- to senior-level officials from Ministries of Finance, Revenue Authorities, Central Banks, and other relevant public sector institutions involved in public financial management and taxation.
Course Content
The course will cover the following key topics:
- Overview of PFM and its importance.
- Key components of PFM: budget preparation, execution, accounting, and reporting.
- Principles of sound PFM: transparency, accountability, and fiscal discipline.
- Medium-Term Expenditure Frameworks(MTEF).
- Performance-based budgeting (PBB).
- Public investment management and prioritisation.
- Expenditure control and cash management.
- Procurement processes and management.
- Internal controls and audit.
- Principles of tax policy design.
- Tax administration and compliance strategies.
- Broadening the tax base and addressing tax evasion.
- Taxation at the local level and in the informal sector.
- Taxation of natural resources such as the Extractive Industry Transparency Initiative (EITI) and country-by-country reporting.
- Types of taxes: income tax, VAT, corporate tax, property tax, etc.
- Tax incentives and their economic impact.
- International tax issues and transfer pricing.
- Coordinating PFM and tax policies for fiscal sustainability.
- Impact of taxation on the economy.
- Developing effective PFM and tax policies.
- Strategies for successful implementation and reform.Monitoring and evaluation of PFM and tax policies.
- Issues and challenges in reforming public expenditure.
- Case studies of integrated PFM and tax reforms.
- Addressing common challenges in PFM and taxation.
- Leveraging technology for improved PFM and tax administration.
- Opportunities for regional cooperation and harmonisation.
Methodology
The course will utilise a mix of instructional techniques, including (a) Lectures by subject matter experts covering theoretical and practical aspects, (b) Real-world examples to illustrate key concepts and practices, (c) Group Presentations and Discussions facilitated sessions to encourage peer learning and exchange of ideas, and (d) Hands-on activities to apply learned concepts in practical scenarios.
Expected Outcomes
By the end of the course, participants will (a) gain a thorough understanding of public financial management (PFM) and taxation principles, (b) acquire practical skills for developing and implementing PFM and tax policies, (c) enhance their ability to coordinate PFM and tax systems for improved fiscal outcomes, and (d) foster regional cooperation and knowledge-sharing among PFM and tax professionals.
Resource Persons
The course will feature experienced professionals from the region and with extensive expertise in public financial management (PFM) and taxation.
FDMRIP 08-R: Joint WAIFEM/ComSec Regional Training on Debt Compilation, Recording and Reporting Using Meridian.
Date: July 7 – 11, 2025
Duration: 5 Days
Venue: Abuja, Nigeria.
Background
Accurate debt data compilation, recording, monitoring and reporting are foundational to effective and efficient debt management. They ensure transparency, accountability, and informed analysis and decision-making. The Commonwealth Meridian, developed by the Commonwealth Secretariat (COMSEC), is a tool for debt data management, offering a comprehensive, flexible, and efficient solution for debt recording and analysis that aligns with international standards and leverages modern technology. Its features and benefits contribute significantly to improved debt management practices and outcomes.
Currently, while some of the WAIFEM member countries have installed the Software, others are in various stages of transition from CS-DRMS to CS-Merdian. Hence, there is a need to continuously build debt managers’ capacity to use the Software for debt compilation and recording and promote best practices in public debt management across the WAIFEM region.
Objectives of the course
The primary objective of this training is to provide participants with practical knowledge and hands-on experience in debt compilation and recording using the CS-Meridian system. Specific objectives include (a) Understanding the importance of accurate debt recording and its impact on debt management, (b) Learning the functionalities and features of the CS-Meridian, (b) Developing skills for effective debt data entry, compilation, and reporting using Meridian, (c) Exploring best practices in debt recording and management, (d) Enhancing regional cooperation and knowledge-sharing in debt management practices.
Target Audience
The training is designed for debt management officials from Ministries of Finance, Central Banks, offices of the Accountant-General, and other relevant public sector institutions involved in debt recording and management.
Course Content
The training will cover the following key topics:
- Overview of public debt management concepts and statistics.
- Key principles and best practices in debt data compilation, recording, monitoring and reporting.
- Role of accurate debt recording in debt/fiscal sustainability.
- Institutional Arrangement and the Role of the Bank Office.
- Introduction to the CS-Meridian system and its development.
- Key features and functionalities of CS-Meridian.
- System requirements and installation process.
- Setting up and configuring the CS-Meridian.
- Entering and updating debt data: loans, grants, and securities.
- Managing debt transactions and schedules.
- Generating standard and customised reports.
- Analyzing debt data for decision-making.
- Ensuring data accuracy and consistency.
- Real-world examples of debt recording using CS-Meridian.
- Hands-on exercises to reinforce learning.
- Troubleshooting common issues and challenges.
- Data integrity and security.
- Developing effective debt recording policies and procedures.
- Coordinating with other departments and stakeholders
- • Importance of regional cooperation in debt management
Methodology
The training will utilise a mix of instructional techniques, including (a) Lectures by subject matter experts covering theoretical and practical aspects, (b) Live demonstrations of the CS-Meridian system functionalities, (c) Hands-On Exercises (Practical activities to apply learned concepts), (d) Real-world examples to illustrate key concepts and practices, and (e) Facilitated sessions to encourage peer learning and exchange of ideas.
Expected Outcomes
By the end of the training, participants will (gain a comprehensive understanding of the CS-Meridian system and its applications in debt recording, monitoring and reporting, (b) acquire practical skills for effective debt data entry, compilation, and reporting, (c) enhance their ability to maintain accurate and reliable debt records, (d) foster regional cooperation and knowledge-sharing in debt management practices.
Resource Persons
The training will feature experienced professionals from the WAIFEM countries, COMSEC, and WAIFEM staff with extensive expertise in debt management and the CS-Meridian.
FDMRIP 09-R: Regional Course on Fiscal Institutions, Fiscal Discipline and Strengthening Fiscal Risks Management.
Date: August 4 – 8, 2025
Duration: 5 Days
Venue: Lagos, Nigeria.
Background
Many emerging markets and developing economies face economic vulnerabilities due to fluctuations in commodity prices, external debt burdens, and limited fiscal space. Other sources of risk exposure include natural disasters, financial market volatility, contingent liabilities, and demographic changes. In some countries, fiscal institutions may lack the capacity, autonomy, and transparency needed for effective fiscal governance. Political pressures, short-term priorities, and weak institutional frameworks can make adhering to fiscal rules and targets challenging. This can result in budget overruns, inefficient spending, and difficulty managing fiscal risks.
Effective fiscal institutions, therefore, ensure that public resources are allocated efficiently, fiscal policies are implemented transparently, and fiscal risks are managed proactively. Maintaining fiscal discipline is also essential for macroeconomic stability and sustainable development.
Objectives
This course aims to enhance participants’ understanding and capabilities in building robust fiscal institutions, maintaining fiscal discipline, and strengthening mechanisms for identifying and managing fiscal risks. Its primary objective is to provide participants with comprehensive knowledge and practical skills related to fiscal institutions, fiscal discipline, and fiscal risk management.
Specific objectives include (a) Understanding the role and importance of strong fiscal institutions, (b) Learning about the principles and practices of maintaining fiscal discipline, (c) Identifying and assessing various fiscal risks, (d) Developing strategies for strengthening fiscal risk management, (e) Promoting best practices and regional cooperation in fiscal management
Target Audience
The course is designed for mid- to senior-level officials from Ministries of Finance, central banks, and other relevant public sector institutions involved in fiscal policy and management.
Course Content
The course will cover the following key topics:
- Overview of fiscal institutions and their importance.
- Key components and functions of strong fiscal institutions.
- Institutional frameworks for fiscal policy formulation and implementation.
- Importance of fiscal discipline for macroeconomic stability.
- Budgetary rules and frameworks to enforce fiscal discipline.
- Role of fiscal transparency and accountability.
- Types of fiscal risks: macroeconomic, contingent liabilities, and off-balance-sheet risks.
- Tools and methodologies for assessing fiscal risks.
- Integrating fiscal risk assessment into fiscal policy.
- Developing comprehensive fiscal risk management frameworks.
- Strategies for mitigating and managing fiscal risks.
- Role of fiscal buffers and contingency planning.
- Enhancing the legal and regulatory framework for fiscal management.
- Building capacity and institutional infrastructure.
- Promoting inter-agency coordination and collaboration.
- Real-world examples of successful fiscal institution building and risk management.
- Lessons learned from regional and international experiences.
- Best practices in fiscal management and governance.
- Importance of regional cooperation in fiscal management.
Methodology
The course will utilise a mix of instructional techniques, including (a) Lectures by subject matter experts covering theoretical and practical aspects, (b) Real-world examples to illustrate key concepts and practices, (c) Facilitated sessions to encourage peer learning and exchange of ideas, (d) Hands-on activities to apply learned concepts in practical scenarios, (e) country presentations sharing insights and experiences.
Expected Outcomes
By the end of the course, participants will:
- Gain a thorough understanding of the role and importance of fiscal institutions.
- Acquire practical skills for maintaining fiscal discipline and managing fiscal risks.
- Enhance their ability to develop and implement effective fiscal policies.
- Foster regional cooperation and knowledge-sharing in fiscal management practices.
Resource Persons
The course will feature experienced professionals and practitioners from the sub-region and beyond with extensive expertise in fiscal institutions, fiscal discipline, and fiscal risk management.
FDRIDP 10-R: Joint World Bank/IMF/WAIFEM Regional Training on Annual Borrowing Plan (ABP) Development.
Date: September 1 – 5, 2025
Duration: 5 Days.
Venue: Abuja, Nigeria
Background
An Annual Borrowing Plan (ABP) is a critical tool for implementing a public debt management strategy. It provides a framework for planning and executing government borrowing activities within a fiscal year. It aligns borrowing decisions with broader fiscal and debt management strategies, ensuring that funding requirements are cost-effectively and risk-managed. Effective ABP development helps governments optimise their debt portfolios, manage fiscal risks, and achieve fiscal sustainability.
Objectives
This training, organised jointly by the World Bank, IMF, and WAIFEM faculty, aims to enhance participants’ capacity to effectively develop, implement, and monitor Annual Borrowing Plans. Specific objectives include (a) Understanding the purpose and components of an ABP, (b) Learning methodologies for developing a comprehensive ABP, including the Issuance calendar (c) Analyzing the integration of ABP with broader debt management and fiscal strategies, and (d) Identifying best practices and addressing common challenges in ABP development.
Target Audience
The training is designed for mid- to senior-level officials from Ministries of Finance, Central Banks, Debt Management Offices, and other public sector institutions involved in debt management and borrowing activities.
Course Content
The training will cover the following key topics:
- Definition and objectives of an ABP.
- Role of the ABP in public debt management.
- Linkages between the ABP and Medium-Term Debt Management Strategy (MTDS).
- Introduction to the ABP Template.
- Setting borrowing objectives and requirements.
- Identifying sources of financing and choosing appropriate instruments.
- Drafting a borrowing calendar and allocation plan.
- Integrating ABP with debt portfolio management.
- Assessing and managing cost and risk trade-offs in borrowing.
- Strategies for optimising debt portfolio performance.
- Institutional arrangements for ABP execution.
- Monitoring borrowing activities and compliance.
- Adjusting the ABP in response to economic changes and policy updates.
- Reviewing best practices in ABP development and execution.
- Importance of regional cooperation in debt management.
Methodology
The training will employ various instructional techniques, including (a) Lectures by experts covering theoretical and practical aspects of ABP development, (b) Illustrating real-world examples and applications, (c) Interactive sessions for hands-on practice with ABP development tools and techniques, and (d) Facilitated exchanges of ideas and experiences among participants.
Expected Outcomes
By the end of the training, participants will (a) have a solid understanding of the principles and processes for developing an ABP, (b) be equipped with practical skills to draft, implement, and monitor an ABP effectively, (c) be able to integrate ABP development with broader debt management and fiscal strategies, and (d) Develop and propose a plan that will support the development of government securities markets in facilitating financial development and stimulate overall economic development, and (e) foster regional collaboration and exchange of best practices in borrowing plan development.
Resource Persons
The training will feature experienced World Bank, IMF, and WAIFEM professionals and experts.