Should legislation to regulate the allocation of confidential and intelligence funds (CIF) be pursued, Senate President Juan Miguel Zubiri believes that local government units (LGUs) shouldn't be spared from it. "If you come up with a law, I will suggest na isama ang LGUs (that LGUs be included),"...
The national government's debt rose by double digits last August, driven by higher borrowings from both local and foreign lenders, the Bureau of the Treasury reported. The government's outstanding debt reached P14.349 trillion as of August 2023, a 10 percent increase from P13.021 trillion in the...
The Department of Budget and Management (DBM) said that the country’s procurement law should be more attuned to the changing times, citing the need for amendments amid the digitalization era. The proposed amendments to the 20-year-old Government Procurement Reform Act (GPRA) have already been...
The national government faced difficulties in selling its short-term debt papers as banks demanded higher returns. On Monday, Oct. 2, the Bureau of the Treasury held an auction for Treasury bills (T-bills) with the goal of raising P15 billion. However, the agency fell short of its target, managing...
EMBARGOED UNTIL MONDAY, OCT. 2, 12:00AM The government's target for the retail dollar bonds (RDB) is expected to be exceeded, as the Bureau of the Treasury reported a strong demand for investment instruments. During the Chat with SBED briefing last Friday, Sept. 29, Officer-in-Charge Treasurer...
Parañaque City Mayor Eric Olivarez said the city government has issued a traffic advisory in relation to the Triskelion City Council's motorcade in celebration of the 55 th National Anniversary of Tau Gamma Phi on Wednesday, Oct. 4. Olivarez said the motorcade will start at 2:00...
The Marcos administration has scaled back its borrowing plan for the next month in light of the retail dollar bond sale, which is slated to conclude in the first week of October, data from the Bureau of the Treasury showed. In a memorandum posted on the Treasury website on Thursday, Sept. 28, the...
President Marcos' top economic manager stated that the ongoing sale of dollar-denominated retail Treasury bonds is a major step towards achieving financial inclusion for Filipinos. Finance Secretary Benjamin E. Diokno said the second sale of retail dollar bonds (RDB) contributes to fostering...
The government has successfully raised $611.2 million through the sale of retail dollar bonds (RDBs), marking President Marcos' first-ever issuance of such instruments to local investors, particularly overseas Filipino workers (OFWs). The Bureau of the Treasury had initially planned to offer $200...
State-owned Government Service Insurance System (GSIS) has introduced a loan program for teachers with longer payment terms and lower interest rates. In a statement on Tuesday, Sept. 26, GSIS President and General Manager Wick Veloso said that this initiative aligns with the Department of...
The US Capitol in Washington, DC, on January 23, 2019. The Moody's ratings agency warned on September 25, 2023, that a US government shutdown this weekend, amid political deadlock in Congress, would have negative implications for the country's top tier credit rating. Just four months after...
Investors pressed anew for an increase in benchmark interest rates for short-term loans. The national government raised P15 billion as planned with the full-award of Treasury bills at the weekly auction held Monday, Sept. 25. The auction was near three-times oversubscribed with total tenders...
