ADB lauds bond issue under Asean+3 initiative
It comes amid warning about a build-up of US dollar denominated debt in Asia with prospect of rising rates
Tokyo
THE Asian Development Bank said on Monday that a Thai baht bond issued by Japan's Mizuho Bank - the first such under the Asean+3 Multi-Currency Bond Issuance Framework - will expand funding sources and help reduce financial market risks in Asia.
Welcoming the move, the ADB noted that "easier local-currency financing made possible through the framework reduces the foreign exchange risks that led to the 1997-1998 Asian financial crisis".
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