FULL COURSE (TWO WEEKS): DATES:   OCT 5 - 16, 2020          TUITION:  $4200
           
SECOND WEEK ONLY:  DATES:   OCT 12 - 16, 2020 TUITION: $2245
(Negotiation & Renegotiation):  
           
VENUE: LIVE ONLINE COURSE    
                 
             

 

 

 

 

 

 

 

Overview

 

This seminar has a dual focus, where the first week (Oct. 5-9, 2020) explores key topics and recent developments with respect to international borrowing and debt management. Special emphasis will be placed on the severe impact that the Covid-19 pandemic will have on all aspects of borrowing, debt management, economic growth, and the negotiation and renegotiation of current and future obligations. The goal is to assist policy makers and practitioners from emerging economies to deal with immediate crises, plan for long term challenges in a fast changing international borrowing and debt management environment, but also to engage with the immediate and urgent challenges. There will be a topical discussion of the increasingly important role of private sector and Chinese Sovereign and State Enterprise lending.

The second week (Oct. 12-16, 2020) focuses on the strategies, processes, skills and techniques necessary for conducting successful negotiations and renegotiations in respect to international borrowing and debt transactions and obligations. The discussion will also include the realities and challenges related to the inevitable policy and political considerations, but from within the perspective of a negotiation approach and strategy. Special attention will be paid to the challenges in dealing with negotiation and renegotiation in the context of the current Covid-19 crisis.

Participants can choose to enroll in either the complete two-week seminar or in the second week only as a self- standing seminar, and will then receive a certificate entitled “Negotiating and Renegotiating International Borrowing and Debt Management Obligations”.

 

Format

The seminar will be delivered through 10 live on-Line sessions via Zoom videoconferencing platform. Each session will last approximately 3.5 hours and will start at 8:30am Washington DC time (Eastern Standard Time). We expect the class to be highly interactive and will include presentations, case studies and exercises.

 

Course Outline

 

First week (October 5-9, 2020):

 

Financial Development and Economic Growth

• Impact of the Covid-19 pandemic on the international macro-economic and financial environments
• Developing effective borrowing and debt management strategies within the above fast changing environments
• Responses from the IMF and other donors
• Private sector/creditor involvement and potential impact, including the role of vulture funds and collective action clauses
Overview of the research

• International market access
• Debt management capacity
• Developing local capital markets
• Accountability and transparency
• Government guarantees and contingent debt
• Microfinance
• Chinese Sovereign and SOE lending

 

Capital Flows and Development

 

• Bond market development
• Ratings and rating agencies
• Country credit spreads
• Exchange rate risk and management
• Project Finance in Public-Private Partnerships
• The market for project finance: Applications and sectors
• Project characteristics and risk analysis
• Designing projects and managing risk
• Financing the deal

 

Innovative Financing Mechanisms for Economic Development

 

• Private equity
• Future-flow securitization
• Impact-investment funds
• Diaspora remittances

 

Second week (October 12-16, 2020):

 

Negotiations and Renegotiations (Participants can choose to enroll for this second week only, as a self- standing seminar):

 

• Negotiation strategies, approaches, processes, skills and techniques
• Integration of political and economic realities into the negotiations process
• Negotiating and renegotiating with international donor organizations and private sector entities
• Debt restructuring and loan negotiation in the light of current developments
• Role plays and case studies based on current events and realities
• Role of outside advisors

 

Course Advisor

 

Professor Reid Click is an Associate Professor of International Business and International Affairs and Chair of the International Business Department at The George Washington University in Washington, DC. He received his Ph.D. in economics and international business from the University of Chicago. Prof. Click teaches courses in international financial management, international business strategy, and international economics. His academic research has been published in leading journals, and he has also been a consultant for several international organizations.