About this work
Foreign withdrawals from local government bonds persisted after the initial pandemic shock. Jonathan Fortun and Sergi Lanau show how some emerging economies offset those losses by borrowing internationally, while others faced a net reduction in foreign funding. Their September 2020 assessment separates local bond flows from governments’ broader access to external finance.
Abstract
Foreign withdrawals from local government bonds persisted after the initial pandemic shock. Jonathan Fortun and Sergi Lanau show how some emerging economies offset those losses by borrowing internationally, while others faced a net reduction in foreign funding. Their September 2020 assessment separates local bond flows from governments’ broader access to external finance.
Cite this work
Jonathan Fortun, Sergi Lanau (2020). Economic Views: Capital Flows to EM Government Bonds. Institute of International Finance.