The $1 billion Asian Bond Fund was set up with pooled funds from 11 Asia-Pacific Central Banks and Monetary Authorities. This article is based on a speech given by John Chambers on the Asian Bond Fund at the New York Asia Society on April 26, 2004. It will state the case of how domestic capital market deepening can help sovereign creditworthiness and address the specific initiative of the two phases of the Asian Bond Fund.
First of all, to clarify, a Standard Poor's rating addresses a narrow subject - the capacity and willingness of an issuer to pay its debt in full and on time. As such, it is a forward-looking...
