The Duterte administration has sealed 22 loan agreements with the World Bank Group (WBG) in the past five-years, bulk of which were used to help finance to country’s war chest against the Covid-19 pandemic, the Department of Finance (DOF) reported. In a statement on Monday, April 25, Finance...
US firm Cerberus Frontier has completed the acquisition of the former Hanjin shipyard at the Subic Bay Freeport in Zambales, a “win-win” takeover especially for the Filipino people, according to the Department of Finance (DOF). At the reception in Washington marking Cerberus’ full takeover of...
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) wants to trim down further its financial obligations by implementing cost-cutting measures while increasing revenue collection, the Department of Finance (DOF) said. In a statement, Irene Joy Besido Garcia, PSALM president and...
President Duterte’s successor should avoid accumulation of additional government debt, as the Department of Finance (DOF) said the next administration should prioritize policies that will entice more economic activity. Finance Secretary Carlos G. Dominguez III said on Thursday, April 21, that the...
The Department of Finance (DOF) wants investment promotion agencies (IPAs) to maximize the P58-billion budgetary support they got from the national government by luring more investments into the country. In a statement, Finance Secretary Carlos G. Dominguez III said on Monday, April 18, that...
The Philippine government sold its second “green” bonds, this time in the Japanese debt market through a four-tranche yen-denominated offering, the Bureau of the Treasury announced on Wednesday, April 13. The bureau said the government raised ¥70.1 billion, roughly P28.95 billion, via a...
Finance Secretary Carlos G. Dominguez III has appointed 958 local treasury executives in the past five years to improve the fiscal position of the local government units (LGUs). In a statement released by the Department of Finance (DOF) on Wednesday, April 13, it said that Dominguez’s...
Updating the country’s property valuation system is the correct way to impose a so-called “wealth tax” that local government units (LGUs) can impose on affluent individuals, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said on Monday, April 11, that LGUs can...
PH calls for new areas of cooperation in ASEAN By Chino S. Leyco Southeast Asian countries are urged to explore new avenues for cooperation to enable the region to collectively contain the economic fallout from the ongoing conflict between Russia and Ukraine. Collective and urgent action is...
As the incoming leader is set to inherit an economy rising out of pandemic, Finance Secretary Carlos G. Dominguez III disclosed that they had met with some presidential candidates and discussed current economic issues. Without naming names, Dominguez said on Tuesday, April 5, that a number of...
Until the end of President Duterte’s term, the current administration will be determined to collect the unpaid estate tax of the heirs of the late former President Ferdinand E. Marcos, the Department of Finance (DOF) said. On the sidelines of the Philippine Economic Briefing on Tuesday, April 5,...
Construction of the three bridges funded by the the Asian Development Bank (ADB) will commence this second quarter or within the last three months of the Duterte administration, the Department of Finance (DOF) said. In a statement, Finance Secretary Carlos G. Dominguez III said the $175.1-million,...
