A number of governments have issued bonds to raise capital among their diasporas. Israel has issued diaspora bonds annually since 1951 through the Development Corporation to raise long-term infrastructure investment capital. Egypt reportedly issued bonds to Egyptian workers in the Middle East in the late 1970s. India issued diaspora bonds in 1991, 1998, and 2000 to avoid balance-of-payments crises and to shore up international confidence in India’s financial system during times of financial sanctions or special needs. Sri Lanka has offered Sri Lanka Development Bonds since 2001 to a number of investor categories including nonresident Sri Lankans, while Ghana offered.
