The Bureau of the Treasury released the implementing rules and regulations (IRR) for the Maharlika Investment Fund (MIF) following comprehensive consultations with the Land Bank of the Philippines and the Development Bank of the Philippines (DBP). Finance Secretary Benjamin E. Diokno said the...
The Department of Finance (DOF) and the Japan International Cooperation Agency (JICA) have sealed a loan agreement to assist the Philippines during disasters and health emergencies. In a statement, the DOF said Finance Secretary Benjamin E. Diokno and JICA Senior Vice President Nakazawa Keiichiro...
The government plans to impose new and revised taxes to generate nearly P500 billion over the next three years, data from the Department of Finance (DOF) showed. Based on the DOF list of revenue measures submitted to Congress, the government has proposed eight tax initiatives that, once approved,...
Finance Secretary Benjamin E. Diokno called upon his regional counterparts to join forces and actively collaborate in overcoming the diverse challenges hindering Southeast Asia's recovery from the Covid-19 pandemic. At the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting in...
The Department of Finance (DOF) said the Philippines maintains its position as the fastest-growing economy in Southeast Asia, surpassing its regional peers despite the second-quarter slowdown. Finance Secretary Benjamin E. Diokno said the country’s gross domestic product (GDP) average growth of...
The International Finance Corporation (IFC), a member of the World Bank, has agreed to invest $250 million in a green bond to be issued by Bank of the Philippine Islands (BPI) of the Ayala Group. In a disclosure to the Philippine Stock Exchange, BPI said this is the biggest deal IFC has done with a...
CAPITAL MARKET DEVELOPMENT THRU NHMFC’S SECURITIZATION PROGRAM. Key officials and Alternate Board of Directors of the National Home Mortgage Finance Corporation (NHMFC) paid a courtesy visit to the newly appointed Bangko Sentral ng Pilipinas Governor Eli Remolona. NHMFC is the sole...
*By Goddes Hope O. Libiran* There's a popular stereotype that finance and economic experts are stiff and inaccessible when it comes to discussing even the basics of why and how the Philippine economy is either in a slump or stepping up. But not Secretary of Finance Benjamin Diokno, whose stellar...
The Department of Finance-Technical Working Group (DOF-TWG) has recommended to exempt from VAT payments local purchases of goods and services by registered business enterprises (RBEs) for their direct and exclusive use, except for six services identified under a planned negative list. In a draft...
The government's sin tax revenues deteriorated last year after levies collected from alcohol and tobacco products fell short of target, data from the Bureau of Internal Revenue (BIR). Based on the BIR document submitted to the Department of Finance, the government’s main tax agency collected...
WASHINGTON, United States (AFP) -- The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability....
The government should now focus on addressing supply constraints that caused high inflation, as President Marcos’ chief economic manager pointed out that monetary policy has already done enough to reign in demand. Finance Secretary Benjamin E. Diokno said that slower inflation recorded in March...
