PH cited as best in debt management by two top financial magazines
Top financial magazines Global Finance and Global Market recognized Philippines and economic managers for being the “best sovereign debt management office” in the East and Asia Pacific.
AMANDO TETANGCO JR. Recognized by Global Finance in Central Bankers Report Cards 2016. Image grabbed from ibtimes.ph
In an Inquirer report, Global Markets explained why they gave the recognition to the Philippines. “When the government of the Philippines announces a non-deal roadshow, investors come to listen. When the sovereign issues debt, they buy,” they said.
Also, Philippines was also said to be able to build up a “formidable reputation” among global investors as a “reliable issuer of sovereign bonds.” This has made the country raise capital in the bond market which provides for social security and economic grown enhancement.
Minister for Economic Affairs at the Philippine Embassy in Washington D.C. Jose Victor V. Chan-Gonzaga received the award on behalf of the Department of Finance.
On the other hand, prestigious Global Finance magazine gave Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. his eighth Best Central Banker Award. Tetangco is one of the only eight central bankers all over the world who received an “A” grade from Global Finance in Central Bankers Report Cards 2016.
These cards are published every year which grades from a scale of A to F in areas such as “inflation control, economic growth goals, currency stability, and interest rate management,” as per Inquirer’s report. Global Markets also honoured Secretary of Finance Cesar V. Purisima as Finance Minister of the Year for East Asia and Pacific.
The Global Finance and Global Markets Awards Ceremonies took place in Annual Meeting of the World Bank Group and the International Monetary Fund in Washington D.C. from October 5 to 9, 2016.
Source: Inquirer.net, Journal.com
