Consultancy on innovative financing and debt sustainability analysis

Result of ServiceThe ultimate result of the service is to generate high-quality, policy-relevant analytical outputs and tools that strengthen evidence-based analysis on public debt sustainability, macroeconomic trends, and innovative financing in the Arab region. Through data analysis, modeling, knowledge products, and technical contributions to capacity-building workshops, the analysis produced will enhance countries’ preparedness to leverage innovative financing instruments and inform debt and fiscal policy decisions in support of sustainable development objectives. Work LocationUN-House ESCWA Expected duration6 months Duties and ResponsibilitiesBackground Several countries are exploring innovative financing options to respond to various challenges, including the “triple crisis” of rising food prices, increasing fuel prices, and financing climate actions while debt service burdens are high. The COVID -19 pandemic, the war in Ukraine, global inflationary pressures, and the associated policy responses have exacerbated these challenges on a global scale. Countries around the world are working to limit their borrowing costs and catalyze private finance through innovative financing instruments, such as debt swaps, green bonds, sustainability-linked bonds (SLBs). While there are successful examples of issuance of such innovative instruments, authorities in most countries lack technical capacity to structure these instruments to convince investors to accommodate them. Member States require a better understanding of these instruments, so they are prepared to access them, which enhances fiscal space toward addressing the many challenges faced by the countries. General Objective The objective of this assignment is to assist in data analysis, econometric modelling, substantive research and drafting of related material that contribute to enhancing country preparedness to access and structure innovative financing instruments, and to addressing issues related to debt sustainability analysis and sovereign ratings. The incumbent will work within a team of economists. Duties and Responsibilities In this context, the consultant will be required to: • Assess and analyze trends, developments, and credit ratings in the Arab region to inform reporting and policy analysis. • Compiling and maintaining public debt and macroeconomic databases based on the national and international sources. • Analyze the interlinkages between climate and environmental indicators, macroeconomic developments, and credit ratings, applying appropriate econometric models to generate analytical insights relevant to debt sustainability and financing strategies. • Support analytical work on innovative financing instruments by mapping data for relevant Key Performance Indicators from national and innovative data sources (including non-traditional methods). • Track, review, and synthetize information on innovative financing instruments in the Arab region to prepare analytical notes and substantive inputs. • Prepare analytical, statistical, and knowledge products on public debt sustainability and innovative financing instruments, including the development of figures, presentations, background notes, and research materials. • Contribute to preparing materials (presentations, background notes and research) related to training workshops on innovative financing instruments in project participating countries. • Assist in organizing national workshops in project participating countries and preparing necessary material, including outcome and summary reports. Qualifications/special skillsAn advanced university degree (master’s or equivalent) in economics, public finance, international finance or related area is required. All candidates must submit a copy of the required educational degree. incomplete applications will not be reviewed. A Minimum of 3 years of professional research work experience in econometric modelling in the area of macroeconomic and fiscal policy is required. Demonstrated knowledge of Python is required A minimum of 1 year of experience in conducting research using EViews or R in economic modelling on debt sustainability analysis in the context of the Arab region is desirable. LanguagesEnglish and French are the working languages of the United Nations Secretariat; and Arabic is a working language of ESCWA. For this position, fluency in both English and Arabic language are required. Note: “Fluency” equals a rating of ‘fluent’ in all four areas (speak, read, write, and understand) and “Knowledge of” equals a rating of ‘confident’ in two of the four areas. Additional InformationNot available. No FeeTHE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.