This is a contractual assignment based in Suva, Fiji. The selected individual would initially be hired for 2 years with a possibility of extending—depending on performance—up to a maximum of 3 years.
The Pacific Financial Technical Assistance Center (PFTAC) is a multidonor-financed institution, providing capacity development (technical assistance and training) in macroeconomic and financial policies to 16 countries. The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is recruiting a well-qualified resident advisor to PFTAC to assist participating countries in public debt management and develop domestic money and debt markets. The advisor will be part of the PFTAC team (www.pftac.org), back-stopped by the MCM of the IMF.
Duties and responsibilities
The resident advisor will respond to TA and cooperation requests received by PFTAC from its members and is expected to travel to these countries to perform the assigned duties. S/he will be required to assist PFTAC members through:
- Improving debt data quality, transparency and market communication by helping debt management offices to establish and maintain a good quality debt database in the debt recording and management system, commencing regular reporting on public debt and improving market communication through an active investor relations program.
Improving analytical capacity of debt managers through hands-on training to develop improved knowledge of (i) the Debt Sustainability Assessment (DSA) Framework and its Toolkit; (ii) the Medium-term Debt Management Strategy (MTDS) Framework and its Toolkit; and (iii) best practices for loan negotiations.
Helping the authorities to implement debt management strategies through the design and publication of an annual borrowing plan (ABP) and issuance calendar that provides regular and predictable issuance of local currency securities; and strengthening overall debt portfolio risk management through implementation of liability management exercises.
Developing the domestic debt market through greater issuance of local currency securities, making improvements to the primary market and issuance framework to help diversify market borrowing and improve macro-financial resilience.
Facilitating increased coordination in debt management through improvement in institutional structure for debt management; and better policy coordination between debt management, cash management, fiscal policy and monetary policy procedures.
Supporting the development of repo markets that will underpin the debt market and enable the effective implementation of monetary policy.
Advising on the issuance of climate-related securities, including climate-resilient debt instruments and green bonds, and purchase of catastrophic insurance.
Organizing/participating in Capacity Development (CD) missions, either alone or with short-term experts that are on MCM's roster, and provide offsite advice;
Helping organize, conduct and contribute to regional workshops and seminars on public debt management;
- Cooperating with the other resident PFTAC advisors as well as other organizations providing CD on issues related to public debt management; and
- In collaboration with the member country and regional authorities, preparing annual assessments of capacity-building needs in PFTAC member countries, taking into account previous CD delivery and developing circumstances.
Any advice provided by the advisor will have to be in line with IMF policies.