Curso Gestão Estratégica de Dívida Pública para os Estados Workshop on Debt Management Strategies for Brazilian Subnationals Jorge Luís Tonetto CONFAZ/GEFIN.

Apresentação em tema: "Curso Gestão Estratégica de Dívida Pública para os Estados Workshop on Debt Management Strategies for Brazilian Subnationals Jorge Luís Tonetto CONFAZ/GEFIN."— Transcrição da apresentação:

1 Curso Gestão Estratégica de Dívida Pública para os Estados Workshop on Debt Management Strategies for Brazilian Subnationals Jorge Luís Tonetto CONFAZ/GEFIN Rio de Janeiro, 11 de junho de 2010

2 Foco do Curso: Middle Office - Planejamento e Estratégia de Gestão de Dívida - Institucional Framework (estrutura de gestão) - Objetivo / metas - Indicadores e análise de custo e risco - Operações de reestruturação - Exercício práticos

3 AGENDA DAY 1- MONDAY, MAY 3 9:00INTRODUCTION AND WELCOME 9:30IMPORTANCE AND FRAMEWORK FOR THE MANAGEMENT OF GOVERNMENT DEBT 10:45 INSTITUTIONAL FRAMEWORK AND THE PROCESS TO DEVELOP A DEBT MANAGEMENT STRATEGY: THE CASE OF BRAZIL STN: Otavio Medeiros History of Public Debt Management in Brazil 13:30MANAGING PUBLIC DEBT IN STATES AND SUB-NATIONALS The Legal Framework in Brazil 14:45MANAGING PUBLIC DEBT IN SUB-NATIONALS: THE CASE OF RIO GRANDE DO SUL RGdS: Jorge Luis Tonetto 15:30 DEBT MANAGEMENT IN THE STATES: ROUNDTABLE DAY 2- TUESDAY, MAY 4 9:00LINKS BETWEEN DEBT MANAGEMENT AND FISCAL POLICY 9:45INSTITUTIONAL ARRANGEMENT FOR DEVELOPMENT OF A DEBT MANAGEMENT STRATEGY 11:00MEASURING AND MANAGING COST AND RISK IN A SUB- NATIONAL PORTFOLIO 13:30 HANDS-ON: CALCULATING RISK INDICATORS EXERCISE 16:15 DEBT MANAGEMENT IN THE STATES: ROUNDTABLE Debt burden Level and composition of the State debt portfolio Institutional framework Challenges for debt management

4 AGENDA DAY 3- WEDNESDAY, MAY 5 9:00 HANDS-ON: CALCULATING RISK INDICATORS EXERCISE Cash flows, Interest rate risk indicators Refinancing risk indicators 9:45SCENARIO ANALYSIS STN: Luis Fernando Alves What is a model and why is it useful? 11:30DEMO: SCENARIO ANALYSIS Projection of funding needs Generating future debt servicing flows Comparing different strategies 14:30BASICS OF LIABILITY MANAGEMENT OPERATIONS 16:15LIABILITY MANAGEMENT OPERATIONS BY SUB-NATIONALS STN: Antonio Paulo de Medeiros The experience of Rio Grande do Sul The experience of Rio de Janeiro DAY 4- THURSDAY, MAY 6 9:00CASE STUDY: THE RESTRUCTURING OF THE PUBLIC DEBT OF THE STATE OF CROSS OF MALTA The structure of the debt Funding strategy, Implementation 10:45IBRD FINANCIAL PRODUCTS AS ALTERNATIVES FOR DEBT MANAGEMENT World Bank: Miguel Navarro 14:30FINAL EXERCISE: DISCUSSION ON ABOUT POSSIBLE ACTIONS TO IMPROVE DEBT MANAGEMENT IN BRAZILIAN STATES World Bank: Anderson Silva Case of State of Minas Gerais Case of Distrito Federal de Brasilia Discussion 16:00FEEDBACK AND CLOSING REMARKS DAY 5- FRIDAY, MAY 6 VISIT TO STN

5 Demais Informações LOCAL DO CURSO: Brasília INSTRUTORES: Banco Mundial (3) e STN DATA: 03 a 07 de maio (ESAF) HOSPEDAGEM: ESAF IDIOMA: Português, algumas palestras em espanhol PATROCINIO: Banco do Brasil e Banco Mundial

6 Participantes 24 participantes 17 Estados e o DF 1 Banco do Brasil

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8 Solicitações dos Estados: Avaliação DEMPA Produtos BIRD Publicações: Livro Dívida Pública: a experiência brasileira http://www.tesouro.fazenda.gov.br/divida_publica/liv ro_divida.asp Guidelines for Public Debt Management http://www.imf.org/external/np/mae/pdebt/2000/en g/index.htm