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The Philippines plans to reduce its foreign bond issuance next year if it wins inclusion in JPMorgan Chase & Co.’s flagship emerging-market debt index, Treasurer Sharon Almanza said.
The government expects global investor demand for its locally issued bonds to increase, allowing it to raise more from peso-denominated issuance, Almanza said in a phone interview on Tuesday. A borrowing mix of 90%-to-10% in favor of domestic borrowings is possible, she said, compared with the current goal of an 80%-to-20% split for this year.