The Philippines will benefit from the new credit line approved by the World Bank that aims to minimize the impact of major natural disasters and health crises on the domestic economy, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said the $500-million standby credit...
The array of development and technical assistance being extended by the Energy Secure Philippines (ESP) program of the United States Agency for International Development (USAID) has been facilitating the integration of energy permitting processes of the local government units (LGUs) into the energy...
The Government Service Insurance System (GSIS) announced it has opened its emergency loan program for members and pensioners affected by the earthquake in two regions in Mindanao. In a statement, Wick Veloso, GSIS president and general manager said a total of 171,341 members and 27,962 pensioners...
Three state-run banks and insurance corporations received the highest ratings for corporate governance in 2022 from the Governance Commission of GOCCs (GCG). During the Government-owned and Controlled Corporations (GOCC) governance awards on Monday, Nov. 20, the Land Bank of the Philippines...
The Bureau of the Treasury has surpassed its borrowing target with the sale of the government's first tokenized bonds. Deputy National Treasurer Erwin D. Sta. Ana reported that the government's sale of one-year tokenized Treasury bonds reached P15 billion, surpassing the initially planned amount of...
The Government Service Insurance System (GSIS) has announced that it will begin distributing Christmas cash gifts to its old-age and disability pensioners on Dec. 6. In a statement, Wick Veloso, GSIS president and general manager said the pension fund has allocated a total of more than P3.47...
The Bureau of the Treasury has decided to cancel its short-term borrowing plan for next week to give way for the government's maiden offering of blockchain-backed debt instruments. In a notice signed by Deputy National Treasurer Erwin D. Sta. Ana, the bureau has announced the cancellation of...
In a move towards embracing digitalization, the Bureau of the Treasury is set to launch its maiden tokenized bond issuance, aiming to raise at least P10 billion. In a statement, the Treasury said these digital peso-denominated IOUs will be offered with a minimum denomination of P10 million, which...
The Securities and Exchange Commission (SEC) and the Department of the Interior and Local Government (DILG) have joined forces to empower local government units (LGUs) in tackling investment scams and promoting financial literacy across the country. The SEC and the DILG signed a memorandum of...
The National Economic and Development Authority (NEDA) said achieving the lower end of the government's growth target range is still achievable due to increased public spending and the upcoming holiday season. During a briefing in San Francisco, California, NEDA Secretary Arsenio M. Balisacan...
The national government successfully sold its short-term debt papers as benchmark yields decreased after a seven-week rise. On Monday, Nov. 13, the Bureau of the Treasury executed its auction by fully awarding P15 billion worth of Treasury bills, with a total demand of P46.441 billion, three times...
The national government's debt service bill accelerated in the first nine-months of the year, primarily driven by higher amortization payments, data from the Bureau of the Treasury showed. Between January and September, the Marcos administration's debt payments surged by 57 percent to reach P1.4...
