IMF paper on public debt markets

This IMF paper reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.

"Although they account for the lion's share of capital markets, regional public debt markets remain underdeveloped for a variety of reasons", the paper notes.

"The problems of small scale, dollarization, and weak public finances in many countries are compounded by poor structure and composition of debt (with sizeable nonstandard and non

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