Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

Events
4th Annual World Bank Government Bond Market Conference and Technical Workshop
March 12-14, 2014Bucharest, Romania

The 4th Annual World Bank Government Bond Market Conference and Technical Workshop (formerly the Gemloc conference) took place on March 12-14, 2014 in Bucharest. This year’s event was jointly hosted by the World Bank, the Ministry of Public Finance, Romania, and the National Bank of Romania. This conference attracted representatives from Ministries of Finance, Central Banks, and securities regulators from 20 countries, local and global investors, as well as capital market specialists from the World Bank Group.

The 4th Annual World Bank Government Bond Market Conference and Technical Workshop (formerly the Gemloc conference) took place on March 12-14, 2014 in Bucharest. This year’s event was jointly hosted by the World Bank, the Ministry of Public Finance, Romania, and the National Bank of Romania.  This conference attracted representatives from Ministries of Finance, Central Banks, and securities regulators from 20 countries, local and global investors, as well as capital market specialists from the World Bank Group.

As emerging market countries rely increasingly on local bond markets to finance business investment and infrastructure — sectors that support economic growth, create jobs, and lift people from poverty – the World Bank’s Government Bond Market Development Program supports the development of local currency bond markets in these countries to increase their investability and attract new domestic and international investment.

This annual event provides a unique opportunity for global investors and senior country officials to meet and exchange information about emerging local bond markets, address key technical issues in local bond market development, and learn how the World Bank’s government bond market program might help strengthen emerging bond markets going forward.  For further information on the program and past events please visit www.gemloc.org.

This year’s conference provided investor-country insights on the outlook and challenges for local currency bond markets, while the Technical Workshop overall theme will be on approaches and tools for improving price discovery and transparency (e.g. electronic trading platforms, fixings, call markets, etc.). With over 80 percent of total public debt being funded through local currency debt instruments, emerging markets have been striving to enhance price discovery, transparency and stimulate liquidity of their local debt markets. Deeper and more liquid markets attract more funds, strengthen public debt profiles, create better pricing benchmarks, and provide a stronger foundation for building private sector fixed income products.

Related Documents:

Contact: Ms. Olga Akcadag, Oakcadag@ifc.org

Day 1 – Wednesday, March 12

9:00 – 9:45 AM Opening and Introduction

9:45 AM – 12:30 PM World Bank Government Bond Market Operations
Presentation from Anderson Caputo Silva, The World Bank Group (PDF)
 
10:45 AM – 12:30 PM Government Bond Market Development Programs  & Country Cases

Romania – Stefan Nanu and Diana Popescu, Ministry of Public Finance (PDF)
Morocco – El Hassan Eddez, Ministry of Economy and Finance (PDF)

1:45 – 5:00 PM Investor and Country Perspectives / Outlook for Local Currency Bond Markets
JP Morgan - Michael Marrese  (PDF)
China -  Mrs. Xiaohong Li, Ministry of Finance 
Argentina - Adrian Cosentino, Ministry of Economy and Public Finances (PDF)

Day 2 – Thursday, March 13

9:15 AM – 12:15 PM Exploring Trends and the Enabling Environment for Electronic Trading Platforms (ETPs)

Presentation by Baudouin Richard and Olga Akcadag, The World Bank Group (FPD)
Colombia –  Camilo Andres Meza Campuzano, Ministry of Finance and Public Credit (FDP)
Poland –  Anna Paluszkiewicz, Ministry of Finance (FDP)
Turkey – Resat Adiguzel, Borsa Istanbul (FDP)

1:30 – 4:30 PM ETPs: An In-Depth Look at Models and Practices
Presentation by Raymond Sabbah and Catiana Garcia-Kilroy, The World Bank Group (FPD)
Hungary – Zsolt Bango, Government Debt Management Agency
 
4:30– 6:00 PM    ETP Showcase
Bloomberg - William Oberuch                                                            
MTS - Angelo Proni

Day 3 – Friday, March 14

9:00 – 11:00 AM Alternative Price Discovery Methods

Presentation by Mike Williams and Indhu Raghavan, The World Bank Group (PDF)  
Presentation by Olga Akcadag, The World Bank Group (FPD)