Gov't shifting borrowing mix toward domestic sources

The Department of Finance is planning to gradually shift the Philippine government's borrowing mix toward domestic sources, targeting a 90 to 10 percent split in favor of local debt over the medium term.

- - Keisha Ta-asan

In an informal chat with reporters, Finance Secretary Ralph Recto said the government is considering different kinds of bond issuances next year. However, it is important to reduce foreign exchange risks.

"We're considering all of them, but we want to limit our foreign borrowings.

We want to reduce that. So next year, I think it's 75-25 percent, possibly even 8020 percent. I think the plan is to reduce that to 90-10 percent over the medium term," he said.