Foreign investors key to boosting Armenian government bond market liquidity.
The Armenian government wants to increase local debt by improving the government bond market. They used IMF guidelines to analyze the market and found that the primary market is well-developed, but the secondary market needs improvement. This is because the non-bank financial sector is underdeveloped and foreign investors are not participating much. To boost the market, they suggest attracting more foreign investors to increase liquidity and promote market growth.