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Philippines May Forego Global Bond Sale as It Boosts Local Debt

Philippines May Forego Global Bond Sale as It Boosts Local Debt
Pedestrians walk past a street vendor during the morning rush hour in the district of Fort Bonifacio in Manila. The Philippines is boosting domestic borrowing to help curb capital inflows that have made the peso the best-performing currency in Asia and among emerging markets in the past 12 months. Photographer: Julian Abram Wainwright/Bloomberg

March 4 (Bloomberg) -- The Philippines may shun the global bond market this year, breaking a run of sales that stretches back a decade, as it boosts domestic borrowing amid record-low interest rates, Treasurer Rosalia de Leon said. * “We would like to fund more domestically and if 100 percent

is possible, why not?” de Leon said in an interview in the

southern city of Samal, where she addressed a conference of

fund managers. The country plans to borrow 730b pesos

($17.9b) this year, and the intention is to raise at least

80% of that from the domestic market, she said

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