ULAN BATOR, April 19 (Xinhua) -- The Asian Development Bank (ADB) has launched a bond market guide for Mongolia, the bank's office in the country said Monday.
The creation of a regulatory framework for corporate debt securities for private placements is key to developing Mongolia's bond market, according to a new report of the ADB.
"The development of local currency bond markets is important, but even more so for countries looking to boost their recovery from the COVID-19 pandemic. Developed bond markets can support infrastructure finance, which is critical for emerging Asian economies to ensure further economic development," said the report, Bond Market Guide for Mongolia.
The publication provides comprehensive information about Mongolia's local currency bond market.
Mongolia has participated actively in the ASEAN+3 Bond Market Forum since 2019, alongside the Association of Southeast Asian Nations (ASEAN), China, Japan and South Korea.
"ADB has been developing the ASEAN+3 Bond Market Guide series to share the experience and knowledge accumulated under the Asian Bond Markets Initiative (ABMI)," said Joseph Ernest Zveglich Jr, ADB deputy chief economist. "Bond Market Guide for Mongolia was published as part of this series. We hope it will contribute to a better understanding of Mongolia's local currency bond market and to its further development."
The ASEAN+3 Bond Market Guides are produced in close consultation with local policymakers and market participants. Their purpose is to help bond market issuers, investors, and financial intermediaries understand local contexts and to encourage greater participation in the region's rapidly developing bond markets.