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AfDB’s African Financial Markets Initiative launches website on African local currency bond markets

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The African Financial Markets Initiative (AFMI), managed by the African Development Bank (AfDB), will launch its website on May 6, 2013. The AFMI website is designed to be a knowledge management and information dissemination tool to raise awareness and understanding of African local currency bond markets.

There are three types of data and information to be disseminated through the website: (i) dynamic high frequency data from Thomson Reuters; (ii) macroeconomic debt and governance indicators, updated on a monthly, quarterly and annual basis; and (iii) data and information on the bond market environment of each country, updated annually.

Not only will the website provide data and information, but will also provide a platform for AFMI stakeholders and development partners to engage in debates on a range of bond market development issues.

The website will first be available in English to users; while development work on the French version is expected to be operational by the end of the second semester of 2013.

Charles Boamah, AfDB Vice-President for Finance, said: “This website will complement the many efforts across Africa to help develop and enhance domestic bond markets on the continent. It is our fervent hope and expectation that the AFMI website will contribute to making vibrant local currency bond markets a reality in Africa, and in so doing help contribute to the attainment of the continents long term development objectives.”

The African Financial Markets Initiative (AFMI), an integrated and tailored response to meet the market needs of stakeholders in Africa was launched by the AfDB Group in 2008. AFMI is funded by the AfDB, the Fund for African Private Sector Assistance and the Canadian International Development Agency, and is designed to further develop domestic debt markets on the continent.

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