Keeping it Local: A Secure and Stable Way to Access Financing
By Tobias Adrian, Thor Jonasson, Ayhan Kose, and Anderson Silva Paychecks for teachers, new hospital equipment, social assistance programs, and other public expenditures. All depend to large extent on governments’ ability to fund them. When governments—particularly those in emerging and developing economies—need money to pay these and other goods and services, they often turn to…