Peter Hördahl
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Bank for International Settlements
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![Different countries currencies in a collage format](https://anderson-review.ucla.edu/wp-content/uploads/2020/11/AR-local-currency-hero-760x570.jpg)
Out of the 1990s Asian Crisis, a New Bond Market Rises
Local currency sovereign bonds transfer risk from issuer to buyer
Bank for International Settlements
Local currency sovereign bonds transfer risk from issuer to buyer