Consolidating public debt markets asia driffield dating
The rapid growth in Asia’s emerging domestic bond markets before the global crisis was due to the strong growth performance and favorable longer term prospects for the region (figure 9-4). Capital Inflows to Selected Asian Markets, 2003–09, by Quartera 100 120 140 160 180 200 80 GBI-EM Global Div Traded...There was also a corresponding increase in securities valuation, accompanied by a further diversification and globalization of the investor base. Foreign investor exposure to domestic assets via (offshore) derivatives may result in capital flows, depending on whether the counterparty to the derivatives position hedges its position in the onshore (domestic) capital market. Individual papers (or excerpts thereof) may be reproduced or translated with the authorisation of the authors concerned.APEC Ministers Responsible for Trade meeting concludes Future of TPP discussed on sidelines of APEC ministers meeting APEC Ministers Responsible for Trade meet in Hanoi APEC aims to boost trade facilitation and supply chain connectivity SOM 2 wraps up APEC SOM 2 opens in Hanoi Mr.
Vietnam’s debt-to-GDP ratio was projected at 60.3 per cent of GDP in 2014, up from 54.2 per cent in 2013, Prime Minister Nguyen Tan Dung told a government meeting late last year.
He also summarized the IMF’s recommendations that, in some countries, including Vietnam, “gradual fiscal consolidation would strengthen resilience.” The strategy will be implemented in two phases of five years each: 2011-20-2020, through specific plans, as follows: 1. Raising the national credit ranking in order to foster the mobilization of capital in international financial markets. Perfecting the organizational apparatus of the debt management agency, enhancing qualifications and the capacity of debt management staff. Further perfecting databases and publishing information on public debt and national foreign debt. Studying public debt management in other countries and drawing lessons for Vietnam.
Targets and orientations for mobilizing and using loans, managing debt and norms of debt safety in each five-year periods. Medium-term debt management programs, starting for the three years of 2013-2015. Developing domestic capital markets, including the government bonds market, in order to increase mobilized capital for the State budget and for development investment. Enhancing the management of risks in public debt in order to reduce public debt obligations and realize norms of debt safety. Managing government guarantees, including specifying prioritized programs and projects provided with government guarantees in specific periods and setting up monitoring mechanisms. Local governments’ mobilization, use, payment and management of debt to be in line with regulations on State budget management. Improving efficiency in mobilizing and using loans and repaying foreign trade loans taken out by the government. Mobilizing and using ODA capital and foreign preferential loans from donors in the period of 2011-2015. Designing a public investment program, with national target programs. Consolidating financial institutions that are responsible for investment credit, export credit, and credit for State policies (i.e.
Reflecting the slowing of export growth and strong domestic demand, Asia’s current account surplus is projected to decrease to about 3 percent of regional GDP in 20, from about 5 percent in 2007, making a modest contribution to the narrowing of global imbalances.
Ample global liquidity on the one hand, and the relatively robust growth and low public debt in Asia on the other hand, should continue to fuel capital flows to the region.