Tech innovations to further help gov’t debt issuance

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An economist said further utilization of tech innovations is expected to help boost the government’s reach vis-a-vis its retail debt issuance.

In a reply to e-mailed questions from the Philippines News Agency, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said roadshows, now done virtually because of the pandemic, to promote the government’s fund-raising activities are a win-win move both for the government and the public.

“This forms part of the further development of the country’s capital markets that further democratizes the distribution of government securities within the reach of the masses/investing public at a minimum investment of PHP5,000 with much higher yield while having among the safest securities issued by the national government and highly marketable/tradable at the same time, thereby also effectively tapping more of the excess/surplus funds from the general public,” he said.

For one, the Bureau of the Treasury (BTr) is scheduled to auction on Tuesday another batch of retail treasury bond (RTB).

RTB is among the government’s retail securities intended for small investors since minimum placement is PHP5,000.

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The government has been encouraging the public to invest in government-issued debt securities not only to secure their funds for the future but also to be part of the economic recovery.