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THE US dollar Asian Bond Fund (ABF) launched yesterday will be a stepping-stone to ABF bonds denominated in regional currencies.
Eleven Asia- Pacific nations will formally launch a new US$1bil Asian bond fund tomorrow, drawn from their huge central bank reserves to speed up the development of a regional bond market.
NO one in a country is spared when its currency tumbles, as everyone is affected one way or another.
Fixed exchange rates for the yuan and other Asian currencies and soaring foreign reserves in the region may spark a financial crisis such as the one in 1997-98 that brought recessions to six of the top 10 Asian economies, the Asian Development Bank said.