Is A Robust Local Debt Market Ahead?

November 2006 | Market Strategy

BMI View: Bosnia is getting ready to sort out a major economic legacy of the war: frozen foreign hard currency deposits. This will result in the issuance of a variety of new government bonds, which we believe will give the necessary impetus towards the creation of a more dynamic local financial market in Bosnia. New domestic currency government securities will open the door to better liquidity management, a more efficient banking sector, as well as corporate and municipal bonds. Raising borrowing, however, is risky amid an economy still deep in

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