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Financial Sector Policies

Virtual : Developing Local Currency Bond Markets

Deadline passed

Session No.: ST 22.18V

Location: Singapore, Singapore

Date: May 9-17, 2022 (1 week) New dates

Primary Language: English

    Target Audience

    Officials from debt management offices, central banks, and regulators that deal with topics related to the securities markets in middle and lower-income 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 course, presented by the Monetary and Capital Markets Department, covers an array of issues related to the development of local government bond markets. The recently revamped course is structured based on the new diagnostic on Guidance Note for Developing Government Local Currency Bond Markets jointly prepared by the IMF and World Bank. Officials are trained on the relevant macro-financial environment and key building blocks related to Money Market, Primary Market, Secondary Market, Investor Base, Legal and Regulatory Framework, and Market Infrastructure that support market development. The course helps to develop a deeper understanding of the interlinkages between each building block and the associated challenges around their development. Based on a set of metrics on outcome and policy indicators, participants are trained to undertake a self-assessment on the stage of market development for the building blocks to identify the gaps and key constraints.

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    Course Objectives

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

    • Describe the importance of connected markets for the development of the government bond market.
    • Assess the main challenges to deepening a local debt market.
    • Formulate effective policies and practices for the money and government bond markets that support market development.
    • Explain the need for stakeholder coordination with a range of government agencies and market participants.
    • Develop effective investor relations practices and diversification of the investor base. 
    • Undertake a self-assessment on the stage of market development to identify gaps and key constraints.
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