Developing Domestic Debt Markets (DDM)

Source details

Presented by the Monetary and Capital Markets Department.
Structured based on the new diagnostic on Guidance Note for Developing Government Local Currency Bond Markets jointly prepared by the IMF and World Bank.
Covers an array of issues related to the development of local government bond markets.
Trains officials 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.
Emphasizes the interlinkages between each building block and the associated challenges around their development.
Uses a set of metrics on outcome and policy indicators to train participants to undertake a self-assessment on the stage of market development for the building blocks to identify the gaps and key constraints.

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

Key building blocks: Money Market; Primary Market; Secondary Market; Investor Base; Legal and Regulatory Framework; Market Infrastructure.
Focus on: macro-financial environment, stakeholder coordination with a range of government agencies and market participants, investor relations practices, and diversification of the investor base.
Method: Training includes a self-assessment exercise based on metrics on outcome and policy indicators to identify stages of market development, gaps, and key constraints.

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.