Government to source more ODA fundingFinance Undersecretary Mark Dennis Joven said the government would keep a close watch on how the decision to discontinue LIBOR by the close of 2021 would change pricing in bond offerings abroad. MANILA, Philippines — The government plans to expand its official development assistance (ODA) portfolio next year as it monitors how the phasing out of the London Inter-Bank Offered Rate (LIBOR) will affect interest rates in commercial auctions. He said the government plans to expand its ODA portfolio in the meantime as the debt market goes through adjustments that may cause instability in bond offerings. Basically, as you can see from the disclosures, we have buffered up on the ODA side, on multilateral ODAs, just in case the market becomes a little bit choppy,” he said. It also broke into the same debt market last year for its second offering overseas, securing 2.1 billion euros in four-year, 12-year and 20-year global bonds.

Source: Philippine Star December 27, 2021 03:59 UTC