The following data are taken from the balance of payments of Freedonia (currency FDK):

Is the following statement consistent with the data shown above? "After 1995, foreigners have issued FDK-denominated bonds in the Freedonian capital market in order to take advantage of the favorable interest rate differential with respect to the US capital market."

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Capital account Portfolio investment (in billions of dollars 29-6.9-5.4-8.7 1995 1996 1997 1998