J.P. Morgan has placed Serbia on Index Watch Positive and could include it in its Government Bond Index-Emerging Markets (GBI-EM), Serbia’s central bank said in a statement.
Central bank governor Jorgovanka Tabakovic said that if J.P. Morgan decides to include Serbia in the index, the effects on the domestic financial market would be numerous as the country’s investor base will expand considerably and Serbia will be eligible for the broadest group of eminent investors from all over the world.
J.P. Morgan is expected to decide on Serbian bonds’ inclusion in the second quarter of 2020.
“This is a huge recognition of all we have done until now,” Tabakovic said in the statement.
According to the statement, J.P. Morgan has praised Serbia’s activities in terms of adjusting the bonds market to the best international practices, which has led to increased foreign investors’ demand for local securities and increase in secondary market liquidity in the last two years.
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