Developing bond markets and enhancing the capacity of public- and private-sector borrowers to issue long-dated, domestic currency denominated debt securities is high on the country’s policy agenda. Among other factors, the presence of the requisite investor base is crucial for the development of both the primary and the secondary markets in debt securities.
I hope what I have said today may provide food for further thought on our discussion on how to prevent the recurrence of another financial tsunami and how to soften its blow. This is the purpose of my speech today. Thank you for all your attention. BIS Review 72/2010  5