One Million Pesos May Be Raffled Off in Philippine Prize Bonds
Pedestrians walk through an alleyway in the San Roque neighborhood of Manila.
Photographer: Veejay Villafranca/BloombergThis article is for subscribers only.
The Philippines is getting closer to offering prize bonds to encourage investment in a nation with among the lowest savings rate in Asia.
The short-term debt that will pay a quarterly coupon and also raffle off prizes every three months will be launched in mid-November, Treasurer Rosalia de Leon told reporters in Manila after a regular debt auction. At stake may be cash prizes of as much as 1 million pesos ($20,000), she said.