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A workshop on the elaboration of an Annual Borrowing Plan (ABP) was held in Geneva, Switzerland, on 26-30 June 2023. Organized jointly by the International Monetary Fund (IMF), UNCTAD and the World Bank as an activity under the Debt Management Facility, this workshop included 28 participants from fifteen francophone African countries.
The training provided a review of the MTDS (Medium-Term Debt
Management Strategy) tool and explained how the newly developed ABP tool can be used to implement the debt management strategy, taking into account cash management constraints. In addition, UNCTAD presented the newly developed DMFAS export tool which greatly facilitates the export of debt data from DMFAS to MTDS.
The ABP tool helps countries design the annual borrowing and domestic issuance plans for better cash management, improved transparency and regularity in market issuances. Participants learned how to use the tool to implement the chosen medium term debt management strategy by selecting the optimal combination of amount, frequency and nature of issuances to fill the financing gaps and limit the size of treasury cash balances.
Using a hands-on approach, trainers from the IMF, UNCTAD and the World Bank made presentations on the MTDS and the ABP, then led the participants through through specific case studies using the ABP tool. Working groups were established to facilitate dialogue on the ABP aspects that may be specific to the participating institutions. Lively discussions ensued with participants sharing challenges and ideas on their approaches to developing the ABP, including financing needs, instrument mix, and auction plan.
Participants expressed their high level of satisfaction with the workshop and emphasized the relevance of the topic in relation to their immediate needs and responsibilities for aligning borrowing with cash management.