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ESMA issues statement disclosures related to sovereign debt

29 Jul 2011

The European Securities and Markets Authority (ESMA) has published a public statement on disclosures related to sovereign debt to be included in IFRS financial statements.

In the statement, the ESMA points out the need for enhanced transparency in interim and annual financial statements for European listed issuers' using IFRSs. ESMA believes that "appropriate application of relevant IFRS is essential in order to ensure adequate disclosures by listed companies of their exposure to sovereign debt and related instruments". These disclosures should be provided on a country-by-country basis.

Please click for ESMA press release (link to ESMA website).