Local Currency Bond Market Development
Source details
- Canonical URL
- Local Currency Bond Market Development
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Bibliographic details
- Published: October 6, 2025
Upcoming offerings
| Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
|---|---|---|---|---|---|---|
| August 31, 2026 | September 4, 2026 | Shenzhen, China | [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | CT 26.15 | English | Deadline passed |
| September 21, 2026 | September 25, 2026 | New Delhi, India | [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | SA 26.44 | English | Apply online by August 31, 2026 |
Program overview
- Title: Local Currency Bond Market Development (LCBM)
- Topic: Financial Sector Issues
- Type: Training Program
- Focus: Development of local government bond markets based on the Guidance Note for Developing Government Local Currency Bond Markets jointly prepared by the IMF and World Bank.
- Core building blocks covered: Money Market, Primary Market, Secondary Market, Investor Base, Legal and Regulatory Framework, Market Infrastructure.
- Approach: Training on the macro-financial environment, interlinkages between building blocks, associated development challenges, and use of metrics on outcome and policy indicators to undertake a self-assessment of market development stages, identify gaps, and key constraints.
Target audience and qualifications
- Target audience:
- Officials from debt management offices.
- Central banks.
- Regulators that 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.
Learning objectives
Upon completion of the 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.
- 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.
Course content emphasis
- Emphasizes the interlinkages among Money Market, Primary Market, Secondary Market, Investor Base, Legal and Regulatory Framework, and Market Infrastructure.
- Uses a set of metrics on outcome and policy indicators for diagnostic self-assessment.
- Trains officials on both conceptual issues and practical constraints in developing local currency government bond markets.