MANILA, Philippines - The Philippines is confident it will attract the interest of a number of US-based investors when it offers $750 million in global bonds next year, National Treasurer Rosalia de Leon said.
“For the Philippines, they don’t have a lot of worries versus other emerging markets,” de Leon told reporters late last week.
De Leon was among the government officials who participated in the government’s roadshow that covered Los Angeles, Boston, New York and Philadelphia last month meant to woo US investors to support the Philippine economy.
She said US investors expressed interest on the Philippines especially with the ongoing peace process in Mindanao, seen to secure peace for the whole country in the long run.
At the same time, the recent actions of the Bangko Sentral ng Pilipinas’ Monetary Board has assured the investors that policy settings remain supportive of the country’s strong economy and manageable inflation.
The government earlier said it plans to raise $750 million in global bonds next year, although the exact date has yet to be firmed up. The country in January sold $1.5 billion of 10-year bonds due in 2024.
The US roadshow was meant to showcase the country’s rosy prospects as its economy continues to be strong.
Philippine economic growth accelerated to 6.4 percent in the second quarter from 5.6 percent in the first three months of the year. This brought first-half growth to six percent, still below the government’s full-year target of a 6.5 to 7.5 percent expansion.
Inflation, meanwhile, has averaged 4.3 percent in the 10 months to October, within the BSP’s three to five percent goal. The country’s balance of payments position has also remained in surplus, reflecting a healthy balance sheet and giving the Philippines extra buffers against external risks.
With regard to the continuity of reforms, which has earned the Philippines credit rating upgrades to investment-grade ratings by global debt watchers, De Leon said government officials assured investors 2016 would not mean a reverse of these improvements.