Report by the Public-Private Sector Working Group on Local Currency and Capital Market Development

A report from a Working Group of the European Bank Coordination "Vienna" Initiative (EBCI) has come up with a series of recommendations aimed at both reducing the dependency of the region on foreign currency lending and developing local currency and capital markets. It concluded that the approach should be country specific but coordinated between the home and host authorities of cross-border groups. The report identified the responsibilities of banks, home and host authorities as well as IFIs to further capital market development.

 

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