| Headline: Local and regional issuers bring bond market diversity Source: Euromoney Date: September 2001 Author: Nick Parsons The number and variety of regional and municipal issuers tapping the international markets continues to grow steadily. Central governments across the Americas and emerging markets want to devolve financial responsibility. The degree of sovereign support varies.
There are in-built tensions between the centre and the regions. “It is a balancing act,” says Janne Thomsen, senior vice president, European co-ordinator for international sub-sovereign group at Moody’s Investor Services in London. “The central government wants to decentralize so that it can cut costs but local governments have to have sufficient funds to carry out their tasks. | |||||||||||||||||||||||||||||||||||||||||