This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the State Bank of Viet Nam increased issuance of central bank bills.
The overall expansion of the country’s local currency bond market was slightly tempered by a 2.8% contraction on-quarter in the corporate bond market to US$5 billion. The corporate bond market still posted a growth of 4.2% year-on-year.
By Thuy Dung