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.
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