Asian states need to develop bonds markets - ADB
Astana. May 4. KazTAG - Asian states need to develop their own bonds markets issuing them in the national currency or in the currencies of Asian states, said Bindu Lokhani, vice president of Asian Development Bank.
"Being based on the crisis experience of 1997, we see how it is important to develop local bonds markets... It is being considered as an essential channel to direct savings and deliver them to the needs of economic growth, but this market is still undeveloped in Asia," he said.
In his words, ASEAN states, China, South Korea and Japan are taking efforts to create Asian bonds market to motivate securities issue in the national currencies including for long circulation terms.
An appropriate work is being conducted with the Asian states.
"One of the directions is to develop minimal standards for the system of issuing multi-currency bonds in the Asian region. We always support bonds issue in those states where we work," he said.