The Philippines has raised 1.5 billion USD from the sale of 10-year bonds in recent days to help fund its 2019 spending plan.
Hanoi (VNA) – The Philippines has raised 1.5billion USD from the sale of 10-year bonds in recent days to help fund its 2019spending plan.
The event was the first such issuance from anemerging market this year, with investors across Asia, the US and Europe takingpart.
The Philippines is one of Asia’s most activesovereign bond issuers. It is raising funds to support the budget as theadministration of President Rodrigo Duterte plans to increase infrastructure spending.-VNA
The Philippines' outstanding external debt stood at 72.2 billion USD by the end of June 2018, down by 997 million USD or 1.4 percent from the end of March 2018, the country’s central bank has announced.
The Asian Development Bank (ADB) on September 19 announced that it had approved a 300 million USD loan to support the Philippine government's effort to expand financial services across the country, especially among entrepreneurs, small businesses, farmers, workers, and individuals, including women and vulnerable households.
The Asian Development Bank (ADB)’s Board of Directors has approved a new six-year country partnership strategy with the Philippines, under which the bank will provide a credit package worth 7.8 billion USD to the Southeast Asian country until 2021 to support it in attaining sustained high and inclusive economic growth.
The Adviser of Japanese Prime Minister Shinzo Abe, Hiroto Izumi, visited the Philippines on November 21 to discuss with the country’s Government officials on a 156 billion JPY (1.38 billion USD) aid to help upgrade transport infrastructure in Manila capital.
The World Bank (WB) said on December 21 that it has revised down its growth projections for the Philippines to 6.4 percent in 2018 and 6.5 percent in 2019 as persistently high inflation affects consumer spending.