Development of Local Currency Bond Market

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Development of Local Currency Bond Market

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Bibliographic details

• Session: SA 26.24
• Location: New Delhi, India
• Dates: June 8-12, 2026 (1 week)
• Delivery method: In-person Training
• Primary language: English
• Status: Deadline passed

Course overview

• Presented by the Monetary and Capital Markets Department.
• Covers issues related to development of local currency government bond markets.
• Structured based on the Guidance Note for Developing Government Local Currency Bond Markets jointly prepared by the IMF and World Bank.
• Emphasizes interlinkages among key building blocks and challenges in their development.

Target audience and qualifications

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

Course content and structure

• Key building blocks covered:
  • Money Market
  • Primary Market
  • Secondary Market
  • Investor Base
  • Legal and Regulatory Framework
  • Financial Market Infrastructure
• Focus areas:
  • Relevant macro-financial environment for market development.
  • Interlinkages between building blocks and associated development challenges.
  • Outcome and policy indicator metrics to assess market development stages.

Learning objectives and participant outcomes

• Upon completion, 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.

Assessment and practical tools

• Training includes use of 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 gaps and key constraints.

Additional IMF training note

• IMF offers online training to government officials and the public.
• Example offering listed:
  • Financial Development and Financial Inclusion (FDFI)
  • English (French, Portuguese) | November 16, 2026 - December 11, 2026 | Blended Training | Ebene, Mauritius

References

• In-person Training
• Financial Development and Financial Inclusion (FDFI)