The Philippines is planning to issue 1 billion USD worth of Samurai bonds this year, Secretary of Finance Carlos Dominguez said on June 19 (Photo: www.rappler.com)Hanoi (VNA) - The Philippines is planning to issue 1 billionUSD worth of Samurai bonds this year, Secretary of Finance Carlos Dominguez saidon June 19.
Dominguez unveiled the plan in his opening remarks at the economicbriefing on the Philippine economy in Tokyo, Japan.
The Philippine minister did not give other details of the plannedyen-denominated bond float in his speech, but he said earlier that thegovernment will proceed with it by September or October this year.
Buoyed by the tight spreads of the Philippines' earlier bond issuancesthis year, Dominguez said such developments indicate confidence in the fiscaland debt management of the Duterte administration.
The Philippine Government issued 2 billion USD worth of 10-year dollardenominated bonds in January. Two months later, the Philippines issued itsinaugural renminbi-denominated bonds, or Panda bonds, worth 1.46 billion yuan(225 million USD), making it the first member country in the Association ofSoutheast Asian Nations to issue Panda bonds.
The Philippine economy recorded an impressive growth rate of 6.8 percentin the first quarter of 2018, faster than the growth recorded in the samequarter of 2017.
The Southeast Asian country has maintained an economic growth rate of6.5 percent or higher for 10 successive quarters.
The impressive growth rate, which tied it with China and was onlyeclipsed by Vietnam, was fueled by a surge of 13.6 percent in governmentspending under President Rodrigo Duterte.
The Philippine Government is carrying out a huge infrastructuredevelopment programme worth up to 180 billion USD with the aim of modernizingthe country’s transport systems.
With the growth, the Philippines remained one of the best performingeconomies in Asia in the first quarter of the year.-VNA
Dominguez unveiled the plan in his opening remarks at the economicbriefing on the Philippine economy in Tokyo, Japan.
The Philippine minister did not give other details of the plannedyen-denominated bond float in his speech, but he said earlier that thegovernment will proceed with it by September or October this year.
Buoyed by the tight spreads of the Philippines' earlier bond issuancesthis year, Dominguez said such developments indicate confidence in the fiscaland debt management of the Duterte administration.
The Philippine Government issued 2 billion USD worth of 10-year dollardenominated bonds in January. Two months later, the Philippines issued itsinaugural renminbi-denominated bonds, or Panda bonds, worth 1.46 billion yuan(225 million USD), making it the first member country in the Association ofSoutheast Asian Nations to issue Panda bonds.
The Philippine economy recorded an impressive growth rate of 6.8 percentin the first quarter of 2018, faster than the growth recorded in the samequarter of 2017.
The Southeast Asian country has maintained an economic growth rate of6.5 percent or higher for 10 successive quarters.
The impressive growth rate, which tied it with China and was onlyeclipsed by Vietnam, was fueled by a surge of 13.6 percent in governmentspending under President Rodrigo Duterte.
The Philippine Government is carrying out a huge infrastructuredevelopment programme worth up to 180 billion USD with the aim of modernizingthe country’s transport systems.
With the growth, the Philippines remained one of the best performingeconomies in Asia in the first quarter of the year.-VNA
VNA
