Six administrations will inherit the $25.74 billion foreign loans that the Duterte administration secured during the Covid-19 pandemic, an obligation that needs to be repaid by Filipinos over the next four decades or until 2060. Data from the Department of Finance (DOF) showed that total government...
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...
Bulk purchase of housing loan receivables in the offing Housing developers and originators participated in the consultation meeting spearheaded by NHMFC Securitization Group Vice President, Maria Luisa Favila, to gather insights on the proposed HLRPP Bulk Purchase Scheme. The National Home Mortgage...
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,...
State-owned Philippine Guarantee Corp. (PHILGUARANTEE) posted record financing assistance to micro, small and medium enterprises (MSMEs) during the prolonged pandemic. Based on a report to the Department of Finance released on Monday, April 4, PHILGUARANTEE said its credit guarantee facilities to...
Two foreign-led insurers are set to enter the Philippine market, the Insurance Commission (IC) announced. Without naming names, Insurance Commissioner Dennis B. Funa said they are now processing the applications of the two new entrants coming from a Southeast Asian conglomerate. “We will announce...
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,...
The Philippines is looking at working with the United Arab Emirates (UAE) in conceptualizing and implementing innovative energy efficiency programs to contribute to the global effort to reverse the devastating effects of climate change, a Cabinet official said. During the Climate Change Virtual...
