Flags of the participating countries stand in front of the World Conference Center in Bonn, western Germany, on February 16, 2017, the venue of a G20 Foreign Ministers Meeting that will take place until February 17, 2017. AFP / Patrik STOLLARZ
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Global efforts to create a market for growth-linked bonds that could help avert debt crises have stalled because none of the wealthy economies backing the drive are willing to take the lead and be the first to issue, sources have told Reuters.Policymakers for the Group of 20 major world economies last year agreed on an initiative to create a market for the bonds. One plan mooted by the G-20 last year was to have advanced economies issue first to make investors more comfortable with the bonds.The IMF's report on state-contingent debt, which includes GDP-linked bonds, is due to be published in late April.The second source familiar with the discussions added that deep skepticism about growth-linked debt within Germany, which is hosting this year's G-20 meeting, was also an impediment.
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