Although bank loans still account for the largest share of EME debt, the share of bonds has nearly doubled over the last decade, and increased issuance has been largely absorbed by investment funds held by individuals and institutions domiciled in the AEs.
I strongly support this initiative and very much hope that we move towards a true world standard on this basis. IAS (International Accounting Standards) should in my opinion be the requirement for a listing on all major stock exchanges of the globe. German legislation already allows banks to set up their consolidated accounts on the basis of the IAS.