This primer document has been developed as part of joint collaboration between the Commonwealth Secretariat and the USAID. The primer identifies the required reforms to facilitate the development of efficient government securities markets (GSMs) for the primary market in which government securities (GS) are issued and for the secondary market in which GS are traded. It presents case studies based on recent emerging-market country experiences to illustrate how some preconditions and sound market practices (SMPs) have been practically implemented in GS markets. It also contains a diagnostic checklist to help make a preliminary determination of whether the fundamental legal, regulatory, market, and government support preconditions are in place for developing a viable and sustainable GSM or enhancing the efficiency of its functioning GSM. In addition, it provides guidelines for the preparation of model scopes of work.