INTRODUCTION

As concessional external financing flows to developing countries continue to dwindle, domestic debt markets are increasingly becoming important sources for funding development priorities. As a result, the development of local currency debt markets is becoming a priority, as there is need to enhance their capacity to support public sector financing requirements. Despite considerable progress in establishing domestic financial markets in the region, they have remained undeveloped relative to those in other emerging economies. The markets are still characterized by lack of liquidity due to instrument fragmentation and narrow investor base, and this has resulted in high risk premiums. In addition, lack of liquidity in the secondary market inhibits development of a reliable yield curve that could provide a risk-free benchmark for other corporate borrowers.

In this regard, this workshop is designed to develop practical skills needed to effectively manage domestic debt and drive reforms in financial markets. It will focus on strategies for meeting government financing needs while enhancing market development. The knowledge and skills acquired is expected to enhance officials’ capacity to drive reforms in the domestic financial markets and manage debt within the framework of fiscal prudence and macroeconomic stability.

Duration

5 Days

WHO SHOULD ATTEND

The course is targeted at middle to senior officials in the area of domestic debt management and financial markets departments in Ministries of Finance, Economic Planning and Development and Financial Markets departments of Central Banks. Officials handling fiscal and debt analytical functions in the research departments of central banks and security exchange commissions or capital markets authorities will also find the course very useful.

COURSE LEVEL: Intermediate

LEARNING OBJECTIVES

At the end of this IRES training course, you will learn:

• To develop practical skills needed to effectively manage domestic debt and enhance efficiency in the primary issuance of government securities and their trading in the secondary market and
• To design actionable reform plans to guide domestic market development

TOPICS TO BE COVERED                  

• Money Market instruments and operations
• Repo Market, liquidity management, forecasting and the role of central bank and Government
• Pricing Treasury Bills and Bonds
• Debt issuance techniques and processes
• Liability Management Operations (Buybacks and Exchanges)
• Key Players and their Role in a Primary Dealership System
• Market Interactions and Developing Investor Relations: Disclosure, investor protection
• Development and Maintenance of an Efficient Primary Market for Government Securities
• Strategies for Building Strong and Active Investor Base
• Sequencing of Measures to Develop Government Securities Market
• Developing a Domestic Debt Issuance Plan
• Overview of the Government Securities Market Development Toolkit and
• Developing a Reform Plan

Course Administration Details:

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).

TRAINING VENUE

The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION AND AIRPORT PICKUP

Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

Email:[email protected]/[email protected]

Mob: +254 715 077 817/+250789621067

TAILOR- MADE

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 715 077 817/+250789621067

Mob: +254 792516000, +254 792516010 , +250 789621067 ,or mail [email protected]/[email protected]

PAYMENT

Payment should be transferred to IRES account through bank on or before start of the course.

Send proof of payment to [email protected]/[email protected]

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