INTERNATIONAL BORROWING AND DEBT MANAGEMENT

may 5 - 16, 2008

tuition fee: $3950
course advisor contact email on-line application print application guide to dc

Intended Audience: Policymakers and individuals involved in negotiating, advising on, reviewing, and approving loan agreements from international public and private financial institutions.

COURSE OBJECTIVES: The seminar provides exposure to structural adjustment programs and the problems and opportunities associated with loan renegotiations. Through an examination of financing documents, alternative debt-reduction techniques and case studies, participants become familiar with the critical issues, problems, pitfalls and advantages involved in structural adjustment programs.

COURSE OUTLINE:

Negotiating and Structuring Development Finance
  • Survey of existing financing sources for development projects
  • Role of external finance

Balance-of-Payments Accounting

  • External debt accounting; institutional and operational considerations

Credit Analysis

  • International country-risk analysis
  • Project analysis; corporate credit analysis
  • Credit rating agencies: impact of credit rating on a country's ability to borrow

Structural Adjustment & Debt Management

  • Lending policies
  • Conditionalities; legal constraints, problems, pitfalls and advantages
  • Executive and operational debt management
  • Institutional arrangements for debt monitoring;
  • Debt management information systems

Renegotiation and Structural Adjustment

  • Sovereign debt renegotiation; legal issues
  • Multilateral credit facilities
  • Debt reduction
  • Current developments in sovereign-debt renegotiation

Structuring Financial Arrangements

  • Financial issues; legal issues; key clauses
  • Disclosure questions
  • Documentation
  • Role of outside advisors