Philippine government to sell more foreign bonds this year — report

MANILA, Philippines — The Philippine government plans to tap the international debt market anew this year to raise more cash for its programs and projects, according to a report.

Citing a person familiar with the matter, Bloomberg reported on Monday that the government would sell more foreign bonds this year in a bid to raise $3 billion to $4 billion.

Budget documents showed net foreign borrowings this year are expected to hit P421.4 billion.

In the first half, domestic borrowings still cornered the largest share of the government’s P12.79 trillion debt pile at 68.5%.

The Bureau of the Treasury announced last week its plan to sell P30-billion worth of Retail Treasury Bonds that would be the first such offer under the Marcos Jr. administration. — Ian Nicolas Cigaral