MANILA, Philippines — The Philippines raised around P122 billion in new debt on its second offshore fund raising activity this year meant to help foot the bill for its costly coronavirus programs. In a statement early Thursday, the Bureau of the Treasury said the €2.1 billion euro-denominated global bonds were sold in three tenors: €650 million each of 4-year and 12-year papers and €800 million of 20-year […]
Read MoreMANILA, Philippines — Commodity prices will remain on the uptrend as the global economy recovers from the pandemic, and the Philippines will have to strengthen its short-term resilience as such price increases are both a boon and a bane for the country. In its semi-annual Commodity Markets Outlook report, Washington-based World Bank said prices continue […]
Read MoreMANILA, Philippines — The Philippine economy remains fragile amid the still limited boost in consumer and business confidence as COVID cases continue to escalate, the Asian Development Bank (ADB) said. In a webinar yesterday, ADB country director Kelly Bird said there remains a huge uncertainty in the economy especially with the still increasing COVID-19 cases. […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has directed too big to fail banks to submit concrete and reasonable recovery plans in case of a breach in capital requirement amid the uncertainties brought about by the raging pandemic. BSP Governor Benjamin Diokno said the Monetary Board approved the amendments to the guidelines on […]
Read MoreMANILA, Philippines — Forgone wages during the month-long quarantine restriction are expected to reach P83.3 billion as the government continues to rely on lockdowns to control surging COVID-19 cases. During the Cabinet meeting with President Duterte late Monday night, acting Socioeconomic Planning Secretary Karl Chua said loss of jobs and incomes is the consequence of […]
Read MoreTHE national government’s proposed benchmark-sized euro bond offering has secured investment grade ratings by international debt watchers. In a statement released on Tuesday, S&P Global Ratings said it assigned a “‘BBB+’ long-term foreign currency rating to the proposed benchmark-size euro-denominated senior unsecured notes to be issued by the Philippines (BBB+/Stable/A-2).” Moody’s Investors Service, meanwhile, said, […]
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