Treasury: Gov’t May no Longer Borrow Offshore This Year
Manila, Philippines – Despite securing central bank approval, the Aquino administration may no longer borrow abroad this year, losing an opportunity to secure early financing for 2016 at favorable rates ahead of the US central bank rate hike.
In a text message on Wednesday, National Treasurer Roberto Tan said the government is “unlikely” to tap the foreign debt markets in a month’s time, pending other regulatory approvals it needs to secure.
Source: The Philippine Star