The Republic of the Philippines is considering issuing more peso-denominated bonds in the local market to help fund infrastructure development, according to secretary of finance Cesar Purisima. Speaking to Euromoney on the sidelines of the Asian Development Bank meeting in Hanoi, Purisima said that infrastructure development is a top priority for the country and that peso-denominated 25-year bonds could be issued to help fund various projects.
“There’s over 1.5 trillion pesos in deposits at the central bank,” he says, “and we’re keen to tap into that local liquidity to help fund the pipeline of infrastructure development projects.
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