Debt Sustainability Analysis (DSAx)

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Deadline for the application has passed.
Course No.: OL 17.115
Location: Course Conducted Online, United States
Date: April 3, 2017-June 30, 2017 (13 Weeks)
Language: English

Target Audience:

This special offering of the DSAX is conducted as a Massive Open Online Course (MOOC). It is open to all audiences.All government officials are welcome to register. This course is particularly relevant for officials from ministries of finance, debt agencies, central banks, or other government agencies of IMF member countries responsible for providing advice or implementing macroeconomic and debt policies. The course is offered in English.


Some knowledge of economics would be helpful. Access to a computer with a reliable Internet connection with Firefox or Chrome web browsers and proficiency in Excel are essential.

Course Description:

This course is presented by the IMF's Institute for Capacity Development; Strategy, Policy, and Review Department; Monetary and Capital Markets Department; Fiscal Affairs Department; and Research Department. It aims to provide a comprehensive overview of debt sustainability analysis and a medium-term debt management strategy framework as performed by the IMF and the World Bank. The course will: (i) introduce the main principles of debt sustainability; (ii) cover recently updated DSA frameworks-both for advanced and emerging markets and for low-income countries-with an emphasis on country data; (iii) present a medium-term debt management strategy (MTDS) framework; and (iv) illustrate debt sustainability analysis under uncertainty. The course features short video lectures interspersed with interactive exercises and includes a discussion forum to allow participants to network and discuss the course content. This course, with an expected workload of 40-50 hours, is offered as a self-paced course over 8 weeks. There are no weekly deadlines; computer-based assignments must be completed by the course end date of June 30, 2017.

Course Objectives: Upon completion of this course, participants should be able to:
  • Identify different types of debt and the dangers of high debt.
  • Describe the key concepts of debt sustainability analysis.
  • Prepare a risk-based DSA for a country with access to financial markets.
  • Prepare a DSA for a low-income country with concessional debt.
  • Discuss the development of strategies for managing debt under the MTDS framework.
  • Analyze uncertainty surrounding debt sustainability assessments.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.