The Securities and Exchange Commission (SEC) cheered the inclusion of Philippine peso-denominated government securities into the J.P. Morgan Government Bond Index - Emerging Markets (GBI-EM).

Set to enter the benchmark are nine Philippine government bonds with an aggregate outstanding value of approximately $49 billion, for the country’s projected weight of 1.78 percent in the index.

The commission said this is a milestone that reflects the increasing credibility and investability of the Philippine sovereign bond market and its growing integration into global fixed-income indices.

Beginning January 29, 2027, Philippine Government Bonds will be included for the first time in the GBI-EM, one of the leading benchmarks used by global fund managers and investors to track emerging bond markets.

Index inclusion typically serves as a catalyst for passive and benchmark-driven inflows, thereby broadening the investor base, improving secondary market liquidity, and strengthening price discovery in domestic bond markets.

“The inclusion of the Philippine government securities in the GBI-EM underscores the steady progress of reforms by the National Government’s Economic Team, strengthening investor confidence in our capital market. It is a clear validation of the Philippines’ continued alignment with international market standards,” SEC Chairperson Francis Lim said.

He added that the SEC remains committed to working closely with the Bangko Sentral ng Pilipinas, the Department of Finance, and the Bureau of the Treasury to promote market depth and advance a regulatory environment that enables the Philippines to sustain and expand its participation in global capital markets.

“The Commission will continue to introduce and, where necessary, review rules governing market infrastructure to facilitate the ease of foreign investor participation and preserve the country’s position as a premier investment destination in Southeast Asia,” said Lim.