Development of Asian Local Currency Bond Markets and Remaining Challenges

Asia's local-currency bond markets continue to develop and are expanding at a pace that exceeds the economic growth of countries in the region. This strong growth of Asia's bond markets is due to a number of reasons, among which we highlight the contribution to market infrastructure and systems development from the Asian Bond Markets Initiative, which was launched in 2003. This paper presents the ABMI's key initiatives and results to date as well as the challenges that must be overcome to support the continued growth of Asia's bond markets