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BIR, BOC overshoot revenue targets

Philippine government seeks another US$11b funding support from central bank

Philippine government seeks another US$11b funding support from central bank
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Philippine govt seeks another $11bln funding support from c bank

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Successful bond floats mark strong investor confidence in PH economy in 2020 despite COVID-19 pandemic

MANILA, Dec. 29 The strong demand for the Philippines’ foreign bond offerings in 2020 even with the unprecedented challenge brought by the COVID-19 contagion has underscored international investor confidence  in the country’s  ability to quickly  bounce back from the impact of this global crisis and regain its pre-pandemic growth momentum.  Finance Secretary Carlos Dominguez III said the low borrowing costs and tight spreads of these foreign bond issuances was the result of the Philippines’ strong fiscal position and favorable credit profile, which has remained at a high-investment grade rating of BBB + in a sea of credit-rating downgrades and negative outlook revisions worldwide amid the global economic turmoil.

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