Foreign investors are increasingly important participants in the local currency sovereign bond markets of developing countries. This note provides context on the overall growth of local currency sovereign debt markets in emerging markets and the growth of foreign investor participation in these...

More and more developing country governments are tapping the global debt capital markets. Thisis increasing the amount of finance available for development, but at a considerably higher costthan traditional external borrowing on concessional terms. Using a novel methodology based onestimating...