THE government remains focused on borrowing at the lowest possible cost, National Treasurer Sharon Almanza said, but high interest rates and a weaker peso are making it challenging to time offshore debt issuances.
'We are preparing and monitoring the market,' National Treasurer Sharon Almanza told reporters last Thursday when asked about the possibility of a first-quarter dollar bond offer.She noted that high US Treasury yields were a challenge and said the government was also looking at alternative offerings.'The 30-year US Treasury is almost 4.9 percent, close to 5 percent,' Almanza pointed out, making the timing of a Philippine offering critical.
'Today, there's no crowding out of the private sector; in fact, we're taking the slack because private investment is still subdued due to high interest rates.'Interest payments are expected to remain manageable, and Almanza said that last year's interest payments only accounted for 17.4 percent of revenue and 13 percent of expenditures.Recto said that 'in the past, interest expenses reached 30 percent of expenditures.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Barangay Treasurer Investigated for Loss of DSLR CameraA former barangay treasurer in Cebu City is under investigation by the Commission on Audit (COA) for the unreported loss of a DSLR camera belonging to the barangay.
Read more »
Barangay Treasurer Arrested for Misusing Funds on Online GamblingA barangay treasurer in Lucban, Quezon, Philippines, is facing criminal charges for allegedly misusing public funds to pay for her online gambling debts.
Read more »
Mandaue City Seeks Arta's Help After Bureau Delays City Treasurer AppointmentThe Mandaue City Government is seeking assistance from the Anti-Red Tape Authority (Arta) due to the Bureau of Local Government Finance's (BLGF) months-long inaction regarding the appointment of a new city treasurer. City officials expressed frustration over the BLGF's lack of response and claim that the bureau disregarded their recommended candidate and failed to communicate formally. The City has been without a treasurer since October 8, 2024, when the previous treasurer filed her candidacy for congresswoman.
Read more »
Mandaue City Seeks ARTA Intervention After BLGF Delays Treasurer AppointmentMandaue City Government is seeking assistance from the Anti-Red Tape Authority (ARTA) after the Bureau of Local Government Finance (BLGF) failed to act on their recommendation for a new city treasurer for several months. City officials claim they have not received a response to their endorsement of Assistant City Treasurer Julie Ballesteros, alleging a bypass of their endorsed candidate and lack of formal communication from BLGF. Mandaue has been without a designated treasurer since October 8th, 2024, when the former city treasurer filed his Certificate of Candidacy. Despite submitting their endorsement on October 17th, the city insists they haven't received an official response from BLGF. Meanwhile, BLGF made its own recommendation on November 26th, suggesting an external candidate from Tacloban City.
Read more »
Very poor timing for impeach VP moves—MarcosPresident Ferdinand 'Bongbong' Marcos Jr. said the timing of the impeachment moves against the Vice President was “very poor” given the looming campaign
Read more »
Puerto Princesa, national paddlers make country proud with hosting of world meetTHE picturesque port city of Puerto Princesa, Palawan became the idyllic site of the historic and record-breaking staging of the International Canoe
Read more »