The German Push for Local Currency Bond Markets in African Countries:

2021 ◽  
pp. 284-302
Author(s):  
Frauke Banse
2021 ◽  
Vol 21 (001) ◽  
Author(s):  
◽  

This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.


Policy Papers ◽  
2013 ◽  
Vol 2013 (61) ◽  
Author(s):  

In November 2011, the G-20 endorsed an action plan to support the development of local currency bond markets (LCBM). International institutions—the IMF, the World Bank, the EBRD, and the OECD—were asked to draw on their experience to develop a diagnostic framework (DF) to identify general preconditions, key components, and constraints for successful LCBM development. The objective is to provide a tool for analyzing the state of development and efficiency of local currency bond markets. The application of the DF is expected to be flexible, bearing in mind that the potential for LCBM development depends on economic size, financing needs, and stage of economic development.


Significance The lira’s collapse is fuelling outflows from Turkey’s local currency government debt market, as foreign investors reduce their purchases of emerging market (EM) domestic debt amid a sharp sell-off in bond markets following Donald Trump’s upset victory in the US presidential election. Both Hungary and Poland -- hitherto two of the most resilient EMs -- suffered net outflows last year and are likely to come under further pressure as the ECB starts to scale back, or ‘taper’, its programme of quantitative easing (QE) in April. Impacts The dollar’s rise against a basket of other currencies since the US election will put severe strain on EM assets. The surging price of Brent crude is improving the inflation and growth outlook. Higher international oil prices will also reduce the scope for further easing of monetary policy in developing and developed economies.


2021 ◽  

This guide provides comprehensive information on Mongolia’s local currency bond market. Since 2002, the Asian Development Bank has been working closely with the Association of Southeast Asian Nations (ASEAN) and Japan, the People’s Republic of China, and the Republic of Korea—collectively known as ASEAN+3—under the Asian Bond Markets Initiative to develop resilient regional financial systems. Mongolia became an official observer of ASEAN+3 Bond Market Forum in 2019 and has been an active participant since then. This guide aims to contribute to a better understanding of Mongolia’s local currency bond market and facilitate its further development.


2015 ◽  
Vol 31 (3-4) ◽  
pp. 350-378 ◽  
Author(s):  
Kathrin Berensmann ◽  
Florence Dafe ◽  
Ulrich Volz

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