Foreign investors in the Russian market of federal bonds

The article examines the role of foreign investors in the Russian government securities market in 1992-2019. It is noted that the growth in investment demand of this category of market participants is reflected in its characteristics - new types of instruments appear, the emphasis is shifted when issuing various types of federal loan bonds, and the ratio of different categories of owners changes. The author analyzes the change in the share of foreign investors in the structure of the state domestic debt of the Russian Federation, examines the prospects for the federal loan bond market and the expected development trends. Concludes that foreign holders are the most dynamic category of federal bond investors.