IMF Working Papers Volume 2021 Issue 283: Financing for the Post-pandemic Recovery: Developing Domestic Sovereign Debt Markets in Central America (2021)

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Financing for the Post-pandemic Recovery: Developing Domestic Sovereign Debt Markets in Central America

Author:

Jean François Clevy

Jean François Clevy
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Mr. Guilherme Pedras

Mr. Guilherme Pedras
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, and

Mrs. Esther Perez Ruiz

Mrs. Esther Perez Ruiz
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Series:: IMF Working Papers

Volume/Issue:: Volume 2021: Issue 283

Publication Date:: 03 Dec 2021

DOI:: https://doi.org/10.5089/9781616357061.001

ISBN:: 9781616357061

ISSN:: 1018-5941

Pages:: 34

Keywords:: Bond Markets; Fiscal Deficit; Public Debt; Global Spillovers.; financing condition; pre-existing debt vulnerability; sovereign bond bond yield; market development; LCBM development; Yield curve; Securities markets; Government debt management; Government securities; Global; Central America

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Series:: IMF Working Papers

Volume/Issue:: Volume 2021: Issue 283

Language:: English

Publication Date:: 03 Dec 2021

DOI:: https://doi.org/10.5089/9781616357061.001

ISBN:: 9781616357061

ISSN:: 1018-5941

Pages:: 34

Keywords:: Bond Markets; Fiscal Deficit; Public Debt; Global Spillovers.; financing condition; pre-existing debt vulnerability; sovereign bond bond yield; market development; LCBM development; Yield curve; Securities markets; Government debt management; Government securities; Global; Central America

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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The pandemic has urged countries around the globe to mobilize financing to support the recovery. This is even more relevant in Central America, where the policy response to cushion the pandemic’s economic and social impact has accentuated pre-existing debt vulnerabilities. This paper documents the potential for local currency bond markets to diversify and expand financing for the recovery, lowering bond yields, funding volatility, and exposure to global shocks. The paper further identifies priority actions, both national and regional, to support market development.

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IMF Working Papers

ISSN:: 1018-5941

Publisher:: International Monetary Fund

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