|
|
|
Main functionality of the Debt-Pro modules:
Using the Debt Data Expert, one can quickly and accurately generate the inputs, which are needed by the subsequent analysis. As a result, the users of the Debt Data Expert can quickly finish the input preparation phase of their work, and begin to focus on the various aspects of their analysis. The Debt Data Expert requires a minimum set of information for each loan that exists in a given debt portfolio. The debt portfolio includes both domestic and external debt instruments that are outstanding as of a user selected reference date. More specifically, the Debt Data Expert requires the following data items as input for each loan: the description and classification of the loan, the repayment terms of the loan for both principal and interest, and the outstanding balance of the loan as of a user selected reference date. Based on this minimum set of information that is captured for each loan in the debt portfolio, the Debt Data Expert prepares detailed stock and service projections for up to 50 years. These projections can be created with four frequency options: daily, monthly, quarterly, or yearly. The first option, “daily”, creates projections with full precision (showing the precise day, month, and the year of the projected item). When one of the other frequency options is used, the Debt Data Expert aggregates the projections, as required, and presents the requested information on a monthly, quarterly, or on a yearly basis.
The strength of this module is that it fully conforms to the methodologies established for the purposes of the HIPC Initiative. Furthermore, this module is the tool that is formally accepted and used by the IMF and the World Bank staff in conducting all of their HIPC related debt sustainability analysis. Therefore, the Debt Strategy Analyst is the ideal tool to use by all heavily indebted countries, in performing their debt sustainability analysis.
The Debt Portfolio Manager looks at the larger economic picture and to the compatibility of the debt portfolio with the government's policy objectives and targets. It allows the analyst to project the fiscal sustainability of the country for the next few years; and it establishes whether fiscal difficulties are likely to be experienced by the country in the near or medium term, or not. If the currently pursued policies and strategies are determined to be unsustainable, the Portfolio Manager also helps to identify and design policy changes that will ensure debt, and fiscal, sustainability in the short and medium term. Using the Portfolio Manager, and to the extent that it is possible, one can design optimized policy paths that help avoid fiscal crises in the near or medium term. In contrast to the Strategy Analyst, the Portfolio Manager works with monthly input data and produces “full projections” for 3 to 5 years. The Strategy Analyst module of Debt-Pro works with yearly input data and generates “full projections” for up to 20 years. The term “full projections” refers to those projections that are created after both the Balance of Payments and the Government Budget Gap of the country are fully financed.
In purchasing the Debt-Pro software, several countries were able to mobilize resources from various World Bank and IMF Technical Assistance projects, especially those targeting to enhance the analytical capacity of a country in the area of debt management. You may also want to explore such possibilities for your own country. In addition to the IMF and the World Bank, the Debt Relief International, and the British Government’s DFID and United Nation’s UNDP programs have also provided funding in the past, to assist countries in purchasing the Debt-Pro software.
d. Training Available from IDMIn addition to the various Debt-Pro software products, we offer four training courses to our current and potential clients. All four of our courses relate to public debt management issues. The course titles are listed below.
Aims and ObjectiveThe primary objective of our courses is to ensure that all of our clients are adequately trained on the use and applications of the Debt-Pro software. In some cases, the designated users of the Debt-Pro software might not have the necessary skills and foundation, at first, to fully absorb the methodologies used by Debt-Pro. Consequently, these users may not be able to effectively utilize all of the functions that are available in the software. In these instances, as a preparatory step, we offer assistance in developing the basic debt management knowledge and skills of our course participants to ensure that they are fully prepared to perform the more complex analytical tasks, at a later stage. Each course offered by IDM is intended to address a different set of needs and requirements. All four courses are offered in regular classroom type formats. VenueOur courses are offered in either the United States, Washington DC metropolitan area, or in the client country involved. The choice on the training location is based on our client’s preferences. The language used in the training sessions and in the training materials is also based on our client’s choice. The courses can be arranged in four languages: English, French, Spanish, and Portuguese. Four weeks of advanced notice is required to make the necessary arrangements for each course. When a course is held in a client country, the venue varies from country to country, and it is based on the host country preferences. When held in Washington, the courses run from 9:30 am to 5:00 pm, with a short lunch break. The course participants are transported from their hotel to IDM every morning, and from IDM back to their hotel at the end of each day. The ride from downtown DC to IDM is approximately 40 minutes. IDM does not get involved in arranging for lodging or air transportation to and from the US. The course participants are responsible for making their own arrangements. IDM does issue invitation letters to the course participants, to help obtain visas for temporary entry into the US. Costs and Payment MethodsWhen a Debt-Pro course is held in Washington DC, the course participants are expected to fund all of their travel and subsistence expenses while they are in the Washington DC area. When a course is held in a client country, the host country or organization is expected to fund the travel and subsistence costs of the trainers while in the host country. These costs vary from country to country, and from one instance to another. However, the costs are usually substantially lower when the training sessions are held in the country. This is because typically one trainer is needed for conducting the training sessions while the delegation receiving the training normally consists of 3 to 6 people. In addition to the travel and subsistence costs described above, a standard course fee is charged by IDM for each course. Table 3, below, summarizes these fees. Note that the course fees are based on the number of training days, and not on the number of course participants. When arranging for a course, be sure to make the necessary preparations for the advanced payment of the applicable course fees. After the dates of the selected course(s) are agreed upon, an invoice will be sent to you by IDM. This invoice can be settled through electronic transfer of funds, or through a check. In either case, a few days may be required before the funds are cleared. Be sure to incorporate this period in your planning. Table 3: Course Fees and other Related Information
a/ When a course is held on-site, if necessary, the number of course participants can be increased up to 10. CertificationStudents completing all four of the IDM courses are certified at the completion of their 4th course. The sequence of how the courses are taken by each individual is not significant. Although, is a good idea to take the courses in sequence, beginning with course 101 and ending with course 104, they can also be taken in other sequences. This is in anticipation of various circumstances that may require our clients to follow a different sequence. Coverage and ContentsThe contents, coverage, and the pre-requisites for each course are described in separate course syllabuses. The course syllabuses are made available to our potential trainees upon request. To request more information on the contents of our courses: click here: training@debt-pro.org. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Debt Data Expert. This module is used for preparing the input debt data
that are needed when doing substantive debt analysis. This module is most
useful to the countries that do not have an efficient or robust way of
preparing loan-by-loan projections based on their existing debt. It is
important to note that quite a few countries fall into this category. These
countries have a great deal of difficulty in preparing the necessary inputs to
support the required analytical work. The primary reason for this difficulty
is the following. International organizations, such as the IMF and the World
Bank, who develop the methodologies and techniques that most countries use in
performing debt sustainability analysis, require the input debt data to be
based on a “well defined” methodology. Based on these widely accepted
methodologies, the debt service projections that are to be used as inputs in
any substantive debt analysis must be based only on debt that has
already been disbursed. Unfortunately, with the currently available debt
monitoring systems, most countries have difficulty in creating the debt
service projections that conform to this definition. The Debt Data Expert
attempts to address and resolve this difficulty.
Debt Strategy Analyst. This module is one of the two analytical
components of Debt-Pro. The Debt Strategy Analyst addresses the analytical
needs and requirements of the heavily indebted countries. The objective of
this module is to help design debt strategies and policies that will bring
about debt sustainability. As such, the starting premise of the module is
that, at present, the country's existing debt is not sustainable.
Debt Management Trainer. Debt Management Trainer is an advanced
computerized training tool for public debt managers. It provides training on a
wide range of debt management topics. This module operates at three levels:
basic, intermediate, and advanced. It contains an extensive Debt Glossary and
an online help facility that operates in visual and audio formats. The Trainer
is intended to be a useful for both experienced debt managers as well as those
who are new to the debt management topics.