IMF researchers explore central bank security issuance

The issuance of central bank securities by low-income countries may be hindered by administrative costs or the lack of supportive market infrastructure, according to research published by the International Monetary Fund yesterday on May 18.

The working paper, Issuance of central bank securities: international experiences and guidelines, by Simon Gray and Runchana Pongsaparn, examines why central banks issue securities and why they may take different approaches.

Countries that receive large

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