Philippines Expands Pool of Tradeable Debt by $18 Billion
This article is for subscribers only.
The Philippines will allow state-controlled bodies, including the two biggest public pension funds, to start trading existing government debt for the first time as it seeks to improve market efficiency.
The Government Service Insurance System, Social Security System and other tax-exempt institutions can start trading in the secondary market next month, according to a circular issued yesterday by the Bureau of Treasury. That will add about 800 billion pesos ($18 billion) of notes to the pool of tradable securities, Treasurer Rosalia de Leon said yesterday.