The Government is expected to issue an additional RM2 billion in treasury bills for the purpose of liquidity management. Domestic borrowings remain as the main source, constituting 99.9 per cent of the total gross borrowings while external drawdowns remain minimal at 0.1 per cent. The country's deep and well-developed bond market has provided ample liquidity in the domestic financial market, enabling the government to raise borrowing requirements in local currency. This reduces Malaysia's direct exposure to foreign exchange and interest rate risks. 

Based on the statement above, discuss the importance of a well-developed debt market for investors and for the country.