Philippines plans second tranche of retail dollar bonds for overseas workers

National Treasurer Rosalia de Leon announced that the Marcos government is considering issuing a second tranche of retail dollar bonds, primarily aimed at overseas Filipino workers.

This move comes after the success of the first tranche, which was issued in 2021.

With an abundant FX liquidity and FCDU market, de Leon is optimistic about the potential success of the upcoming bond issue.

According to data from the Bangko Sentral ng Pilipinas, foreign currency deposits reached $48.2 billion as of January 2023, while FCDU loans amounted to only $20.77 billion.

By reaching out to the diaspora and making digital platforms available, the government hopes to make it easier for OFWs to invest in the bonds.

The Bureau of the Treasury issued $1.5 billion of the retail dollar bonds in 2021 with a minimum investment of $300.

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