The Asian Development Bank (ADB) downgraded its growth forecast for the Philippines as the nation struggled in containing the coronavirus outbreak that hampered economic recovery. Based on ADB’s Asian Development Outlook update, the Manila-based multilateral institution has projected that the...
The Philippines got the lowest coupon ever after raising $2.75 billion from the global bond market, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “The Philippines set a record for lowest coupon levels,” said Diokno on Thursday. The ROPs sold have maturities of 10.5...
The Duterte administration’s borrowings increased by over ninefold in October due to Bangko Sentral ng Pilipinas’ (BSP) cash advance to the national government, data from the Bureau of the Treasury showed. Gross borrowings of the national government in October this year increased by 1,244...
The Department of Finance (DOF) ordered the Department of Trade and Industry (DTI) to return to the government coffers the P32.6 billion sitting idle in the state-owned Philippine International Trading Corp. (PITC). In a statement, Finance Secretary Carlos G. Dominguez III said he has...
Finance Secretary Sonny Dominguez (NTF AGAINST COVID-19 / MANILA BULLETIN) The Department of Finance (DOF) urged the chief executives of local government units (LGUs) to borrow money to bankroll projects that would help the country recover from the coronavirus-induced global economic crisis....
Amid the tax predicaments raised by Petron on its refining business, the Department of Finance (DOF) indicated that it is not amenable to proposed tweaks in the country’s tax laws as applied to the supply chain of the downstream oil sector. Finance Secretary Carlos G. Dominguez III (MANILA...
The Department of Finance (DOF) is pursuing steps to untangle the legal issues tying down idle mining assets held by the government in an effort to speed up their privatization and revive their operations. ...
The Bangko Sentral ng Pilipinas (BSP) will not be issuing its own central bank digital currency (CBDC) in the next three or five years, according to its highest-ranking official. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. (Bloomberg file photo) When asked if the BSP could come...
The Department of Finance (DOF) said that local airlines have yet to submit the final loan plan to activate their P700 million financial support earmarked under the government’s economic stimulus programs. (Manila Bulletin File Photo) Finance Secretary Carlos G. Dominguez III said the amount of...
The Philippines remains in a strong fiscal position to meet the financial challenges posed by the coronavirus pandemic and ride out the global economic crisis, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the government has the financial muscles to reboot the...
Despite the declining prices of locally produced palay, the Philippine government agencies are in full force to defend the Rice Tariffication Law (RTL), which allowed the unlimited entry of cheaper imported rice in the country. On Thursday (Oct. 8), four government agencies – the Department of...
Congress should immediately pass the two pending measures of the Duterte administration to help the pandemic-hit businesses that are mainly micro, small, and medium enterprises (MSMEs), the Department of Finance (DOF) said. Finance Assistant Secretary Antonio Joselito Lambino II said the Corporate...
