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  • 2020
  • Chapter

Reserve Accumulation, Sovereign Debt, and Exchange Rate Policy
By: Laura Alfaro and Fabio Kanczuk
In the past decade, foreign participation in local-currency bond markets in emerging countries increased dramatically. Additionally, emerging countries are increasingly deviating from inflation targeting regimes, managing their exchange rate and engaging in...  View Details
Keywords: Reserves; Exchange Rate; Sovereign Finance; currency Exchange Rate; Policy
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  • June 2019
  • Article

Debt Redemption and Reserve Accumulation
By: Laura Alfaro and Fabio Kanczuk
In the past decade, foreign participation in local-currency bond markets in emerging countries increased dramatically. We revisit sovereign debt sustainability under the assumptions that countries can accumulate reserves and borrow internationally using their own...  View Details
Keywords: Sovereign Debt; Local-currency Bonds; Foreign Reserves; Sovereign Finance; Borrowing And Debt; bonds; Financial Markets; Developing Countries And Economies
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  • February 2018
  • Case

Infrastructure in Nigeria: Unlocking Pension Fund Investments
By: John Macomber and Pippa Tubman Armerding
The so-called “infrastructure finance gap” was a problem in Nigeria as in many parts of the world. Infrastructure projects like power plants and dams were very large capital investments that could generate long-term consistent cash flows, but their financing and...  View Details
Keywords: Pension Fund Investing; Infrastucture; Emerging Markets; Power/energy; Credit Enhancement; Infrastructure; Project Finance; Investment Funds; Emerging Markets; Nigeria; Africa
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