Tan retained as national treasurer under Duterte  |...

Tan retained as national treasurer under Duterte

Shared/Posted: Jun 23, 2016 at 05:48pm

Number of Views

Davao City — National Treasurer Roberto Tan will keep his post under the Duterte administration, the incoming Finance chief said.

"No plans at the moment to make any change," Finance Secretary-designate Carlos Dominguez said in an e-mail.

He said this when he was asked if he will keep Tan, 60, on his current post as earlier suggested.

Dominguez had indicated Tan to be doing well as treasurer, overseeing the Philippines's innovative debt issuances under the outgoing government.

Among others, he managed the maiden global peso bond offering in 2011, considered a first in Southeast Asia as debt issued in local currency but settled in dollars.

A total of 1 billion was awarded during that offer.

He was also instrumental in seeing interest rates on government debts drop as the Philippines achieved investment grade status.

For instance, the 25-year US dollar bonds issued last February fetched a record-low average rate of 3.7 percent. The government sold 2 billion.

As of the first quarter, the weighted average interest rate of the National Government's debt was at 5.11 percent, another low on record.

"That (re-appointment) is a confirmation they are doing the right things," said Jonathan Ravelas, chief market strategist at BDO Unibank Inc.

"Good for the Treasurer and the markets," he added.

Kindly refer to the origin of this news.

Related News.

Thousands of drug pushers, users in biggest surrender under Duterte

TAGUM CITY - Thousands of self-confessed drug pushers and users turned themselves in to authorities on Saturday in the...

Duterte on TV different from Duterte in person, Leni Robredo says

President Rodrigo Duterte on TV is quite different from the one she met in person, Vice President Leni Robredo said on...

Duterte EO hands extensive supervisory powers to 2 aides

MANILA, Philipines — Two of President Rodrigo Duterte’s closest aides were given extensive supervisory powers in...

Cops shoot rookie policeman high on drugs

MANILA, Philippines – It was a scene straight out of an action movie.

Comments: (0)

We’d love to hear from you so please feel free to feedback or comments below.

Add Comment

DISCLAIMER: Views and opinions expressed herein are those of the sender and do not necessarily reflect the views of!

Your comment is subject for moderation by our system administrators.