BoB seeks foreign investors for govt’s P55bn debt programme

Government’s bond programme, also known as the domestic note issuance programme, allows the BoB to raise debt from the local capital market on behalf of government, through the issuance of treasury bills and bonds.

The programme, which was increased from P30 billion to P55 billion in February, has become the main source of budget deficit financing for government in recent years. However, nearly all of the funding for the bond programmes comes from the local commercial banks, which are designated as primary dealers.