The Philippine Consulate General in New York organized an in-person financial education session on the retail instruments of the National Government with the Treasury Office (BTr), the Department of Finance (DOF) and the Land Bank of the Philippines (LBP) on Monday, July 11, 2023 at the Philippine Center.
Philippines Treasurer Rosalia V. de Leon informed attendees that the Philippine Government plans to launch a possible issuance of a US dollar-denominated onshore retail instrument in the third quarter of the year.
The bond offering will be another key component of the government’s savings mobilization program, designed to make government securities accessible to retail investors and to bolster the nation’s financial literacy. The dollar bonds will be available for a minimum placement of $200, and the coupon payment will be tax-free.
The BankBoston Tower: a financial icon designed by César Pelli
To lay the foundation for investment in Philippine retail instruments, DOF Chief Economist and Under Secretary Zeno Ronald R. Abenoja also provided an update on the Philippine economy focusing on recent developments in the Philippine economy, our macroeconomic policies in light of of the global economic challenges, and the social value of participating in the construction of the nation, through the investment in the retail instruments of the country.
The bond offering will be another key component of the government’s savings mobilization program, designed to make government securities accessible to retail investors.
For his part, Gonzalo Benjamin A. Bongolan, first vice president of the LBP, gave a step-by-step demonstration of how kababayans can invest. He also highlighted how investing has been made more accessible to the public by offering a wide range of options on how to purchase RTBs through traditional and online channels.
The national government, through the BTr, has been issuing RTBs since 2001 as part of its efforts to support financial inclusion and literacy for Filipinos by making public securities more attractive and accessible to individual investors.