Government to review borrowing program

THE Aquino administration will embark on an aggressive liability management effort by exploring various options available to government, Finance Secretary Cesar Purisima said on Wednesday.

Purisima said the new government would review the current borrowing program set by the previous administration.

“What we want is to lengthen maturities,” said Purisima, adding that in three to four years, there would be some bunching up of maturities.

As such, he said the government would embark on a liability management effort by reviewing existing borrowing strategies and future plans.

Options include doing debt swaps and bond exchanges.

“We will consider all instruments available to us based on the right price and the right cost. It will also depend on the timing,” he said.

Purisima did not provide details on when the review would be concluded. (PIA-Bohol)

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