Fiscal Sustainability

Fiscal Sustainability (FS)              Syllabus

This course, presented by the IMF’s Institute for Capacity Development, looks at fiscal sustainability as a key requirement to achieve macroeconomic stability and ensure sustainable long-term growth and equity. It provides a thorough overview of how to assess fiscal sustainability from a policy and tools perspectives. It presents and discusses tools to understand fiscal risks and early warning indicators used by the IMF; sovereign debt management strategies; and debt crisis. It also covers policy issues related to long-term fiscal challenges such as aging populations and pension reform, and the impact of various contingent liabilities (such as Public Private Partnerships — PPPs) on the long-term fiscal position.

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

• Describe why fiscal sustainability is key to macroeconomic stability and sustainable growth. 

• Characterize key concepts, definitions and techniques for fiscal sustainability analysis. 

• Identify near- and long-term risks and fiscal vulnerabilities. 

• Analyze crises and fiscal adjustments cases. 

• Differentiate between various Debt Sustainability Analysis frameworks. 

• Prepare a risk-based Debt Sustainability Analysis (DSA) for the case of a country with access to financial markets.

Pre-requisite: It is highly recommended that the online course on Debt Sustainability Analysis (DSAx), be completed (in full or several modules) before attending this course.

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IMF's Fiscal Sustainability course by Irina Yakadina

A Modern History of Fiscal Prudence and Profligacy