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Explained: Indian Sovereign Bonds I Current Affairs I UPSC/IAS I

There has been a lot of noise around foreign sovereign bonds ever since the Finance Minister Nirmala Sitharaman proposed to raise part of the Indian government’s borrowings in the external markets in other currencies. While there has been heated debate among economists on the pros and cons of such a move, the bond markets appear to be pleased. A government bond issued in foreign currency (mostly in US dollars) shifts the currency risk from investor to issuer (in this case, the government). Such bonds can be settled on Euroclear, the world’s largest securities settlements system, simplifying ease of investing for foreign investors. #CSE2020 #IndianEconomy #Prelims2020