The Philippines topped the list of 50 countries and scored the highest in the 2024 Investor Relations and Debt Transparency Report of the Washington-based Institute of International Finance (IIF).
The country’s ranking improved from third place in 2023 to first place in 2024 with a score of 48.88 out of 50 points versus 47.8 percent previously.
After the Philippines, Indonesia scored the second highest with 48.75, followed by Turkey with 48.38; Brazil with 47.50; and Hungary with 47.21.
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. expressed his elation for the country’s improved ranking in the IFF report.
“The BSP welcomes the IIF's recognition of the Philippines' outstanding IR (investor relations) practices. We remain committed to working closely with the economic team in transparently communicating the country’s macroeconomic fundamentals and ongoing reforms,” he said Monday, July 8.
The BSP said the report highlighted Philippines’ outstanding efforts in investor engagement and transparency, particularly in providing access to macroeconomic and environmental, social, and governance (ESG) data and policy information.
The investor relations country score is based on 23 criteria such as the Debt Transparency Score, a subset of the headline investor relations country score that focuses on evaluating sovereign borrowers’ data and policy dissemination practices. The ESG Data and Policy Dissemination score, another subset of the headline IR country score, evaluates sovereign borrowers’ practices in disseminating ESG data and policies.
“The investor relations program includes discussions between economic agencies and credit rating agencies, communication and collaboration with global and local banks, and organizing investor briefings both here and abroad,” said the BSP.
The IIF sets standards for best practices in investor relations and data dissemination for emerging markets and developing countries in line with the Principles for Stable Capital Flows and Fair Debt Restructuring, the BSP added.
The central bank also explained that the IIF assessment combines desk research with a survey of countries with active investor relations programs to determine the IR Country Score, Debt Transparency Score, and ESG Data and Policy Dissemination Score.
The Philippine economic team led by Department of Finance and the BSP frequents the investor relations scene by conducting several investor briefings and roadshows to promote the country as an investment destination.