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Financial Sector Policies

Virtual: Local Currency Bond Market Development (LCBM)

Invitation

Session No.: JV 21.52V

Location: Vienna, Austria

Date: June 21-25, 2021 (1 week)

Delivery Method: Virtual Training

Primary Language: English

    Target Audience

    Officials from debt management offices, central banks, and regulators who deal with topics related to the securities markets in middle and lower-income countries from DMF eligible countries.

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    Qualifications

    Participants are expected to have a degree in economics or finance, or equivalent experience.

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    Course Description

    This workshop will train officials in the building blocks for local debt market development and the sequencing of policies for developing local debt markets. The building blocks will include primary and secondary markets, money market and associated market infrastructure. The workshop will also cover the primary issuance mechanism and strategies, and regulations governing the debt market and will discuss the challenges faced by these countries in developing their local debt markets.

    The Guidance Note on Local Currency Bond Market Development based on which this course will be held has recently been published: https://www.imf.org/en/Publications/analytical-notes/Issues/2021/03/12/guidance-note-for-developing-government-local-currency-bond-markets

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Assess the main challenges to deepening a local debt market.
    • Formulate effective policies and practices for the primary and secondary market that support market development.
    • Explain the need for coordination with a range of government agencies and private sector stakeholders.
    • Describe the importance of connected markets for the development of the government bond market.
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