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Fiscal Policy

Understanding, Assessing and Managing Fiscal Risks (UAMFR)

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Session No.: JV 23.06

Location: Vienna, Austria

Date: February 27, 2023 - March 3, 2023 (1 week)

Primary Language: English

Interpretation Language: Russian

    Target Audience

    Mid-level to senior officials in ministries of finance and economy, treasuries and debt management offices, or other government offices involved in assessing and managing fiscal risks.

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    Qualifications

    Participants are expected to have relevant experience in fiscal policy, budgeting, treasury, and debt management, or fiscal risk management and have knowledge of Excel.

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    Course Description

    "Disclosure: Due to COVID 19, courses will be delivered in person, hybrid, or virtual, according to safety guidelines. As of today, this course is scheduled to be delivered in person in Vienna, but its delivery method may change. By submitting your application, you confirm your availability to participate in the course either in person or virtually. Up-to-date Covid-19 vaccination is likely to be required and related information may be requested from participants for in-person courses."

    This course, presented by the Fiscal Affairs Department (FAD), forms part of FAD's Fiscal Risk Work Program, and discusses key institutions that help governments better understand, monitor, and manage risks to public finances. It provides an overview of the key sources of fiscal risks, approaches to analyzing and mitigating them, and institutional arrangements for dealing with them. It provides an overview of FAD's Fiscal Risk Toolkit, which comprises a range of practical Excel-based tools to assist countries in analyzing and quantifying their fiscal risk exposures, as well as training on the application of some of the newest tools in the Toolkit. The course also discusses standards for reporting and disclosing fiscal risks - as prescribed in the IMF's Fiscal Transparency Code.

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Define fiscal risks and contingent liabilities and identify their key characteristics. 
    • Identify the main fiscal risks a country may face and assess and prioritize these risks according to their relevance.
    • Understand the main techniques and approaches used to assess macro-fiscal and risks from specific sources such as government loan guarantees, state-owned enterprises, and public-private partnerships. 
    • Identify institutional arrangements that support effective fiscal risk monitoring and management.
    • Prepare a fiscal risk statement.
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