MANILA – The Philippines intends to issue its first ever US Dollar-denominated Retail Dollar Bond (RDB) to Filipino Foreigners (OF) to increase public funds, said National Treasurer Rosalia de Leon.
In a virtual briefing Thursday, de Leon said they plan to have the minimum investment in the debt issuance slated for $ 300.
“This product is a more accessible financial instrument compared to traditional ROPs (the dollar-denominated bond called the Republic of the Philippines bond), which are available for a minimum of $ 200,000,” she said.
De Leon said the planned offering is another investment option for OFs, especially those based in the United States.
âInvestors are not only assured of protection against potential currency risks or currency risks, but more importantly, an opportunity to maintain the value of their hard-earned savings in US dollars,â a- she added.
De Leon said investors would also get the full value of their investments, as the government would bear the final withholding tax and interest for PORs.
She said the government has partnered with several financial institutions to ensure that OFs can easily open bank accounts and invest in PORs.
“We are confident that with the ideas and feedback from our fellow Kababayan (compatriots) around the world, we will move one step closer to our goal of further strengthening inclusion and financial literacy for ordinary Filipinos,” a- she added.
The government has put in place a PHP 3 trillion borrowing program for this year, 80% of which is expected to come from the country mainly through the issuance of treasury bills (T-bonds) and treasury bills. (T-bonds). (ANP)