Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109271
Authors: 
Hoschka, Tobias C.
Year of Publication: 
2005
Series/Report no.: 
ERD Working Paper Series 68
Abstract: 
This paper surveys the issues involved in local currency financing by multilateral development banks (MDBs). While MDBs have traditionally provided financing in foreign currency to their borrowers, greater sensitivity by borrowers to potential currency mismatches, political decentralization, and the development of local capital markets have recently led MDBs to consider providing financing in local currency. While still small in comparison to MDBs' foreign currency financing, this paper argues that local currency financing will evolve into an increasingly important financing mode for MDBs. The paper addresses the key benefits and challenges, and provides an overview of the current policies and experience of the major MDBs in this rapidly growing area.
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo
Document Type: 
Working Paper

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