The Philippine government has raised a total of $2 billion or around P117 billion by offering triple-tranche dollar-denominated bonds —marking the Marcos administration’s debut in the offshore debt market.
National Treasurer Rosalia de Leon on Thursday told GMA News Online that proceeds of the bond offering will be used for general government financing or for state programs and projects.
Finance Secretary Benjamin Diokno earlier said the Marcos administration is expected to borrow more than P1 trillion to plug the projected fiscal shortfall next year.
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