Philippines wants to maintain its presence in offshore market

[pioneer]

Phl may borrow $750 M this year
By Iris C. Gonzales (The Philippine Star)

MANILA, Philippines - The National Government is still open to raising the remaining commercial foreign borrowing requirement of $750 million from the external debt market this year, a ranking Finance official said over the weekend.

In an interview, Finance Undersecretary Rosalia de Leon said the Philippines wants to maintain its presence in the offshore market and to take advantage of strong appetite for Philippine debt papers.

“We’re still thinking of doing that because we need to maintain our presence abroad,” she said.

The Bangko Sentral ng Pilipinas (BSP) wants the National Government to just tap the local debt market for its remaining borrowing needs to siphon off excess liquidity in the cash-rich domestic mart.

De Leon said that is also possible but to keep Philippine bonds actively trading in the offshore market, the national government needs to maintain its presence abroad.

[johnchanel]

Philippines prefer maintaining its image in the market of different parts of the world. The Philippine debt papers are taking advantage of the situation. So read the blog to know more.

[hubag bohol]

In an interview, Finance Undersecretary Rosalia de Leon said the Philippines wants to maintain its presence in the offshore market and to take advantage of strong appetite for Philippine debt papers.

Philippines prefer maintaining its image in the market of different parts of the world. The Philippine debt papers are taking advantage of the situation.

The Philippine debt papers are opportunists; however, as they take advantage of the situation by offering themselves to feed the appetite of offshore markets, they inadvertently help solve the garbage problem of the country.

Bwahaha!