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Issuing in Foreign Currency

By opening the market to foreign investors, governments can further broaden and diversify the investor base. Issuing in foreign currency may be an effective way to address this goal. However, the development of government bond markets, and in particular their currency composition, has recently received much critical attention, partly because of their link with financial crises. As a result, the structure and composition of government debt in terms of currency is subject to more rigorous scrutiny in terms of fiscal and financial vulnerabilities.

A special attention is devoted to the main challenges faced by the emerging debt markets. So this policy area includes such topics as:

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