STANDARD & Poor's (S&P) Ratings Services has described the creation of the US$1bil Asian Bond Fund set up with pooled funds from 11 Asia Pacific central banks and monetary authorities as a positive development in regional financial cooperation.
S&P applauds this as a tangible step in the evolution of a regional bond market, its regional head for Asia Pacific (ex-Japan and South Korea) Cecile Saavedra said in a statement yesterday.
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