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".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month