MANILA, Jan 6: The Philippines is unlikely to sell sovereign debt overseas early this year, with the Government opting to first observe how other sovereign issuers would fare given market volatility, its national treasurer said today.
‘There is no urgency to immediately go out,’ Rosalia de Leon told reporters after the Treasury’s monthly T-bill auction.
‘We are looking at the QE (quantitative easing) now, we have to watch markets more closely,’ she said, referring to expectations the U.S. Federal Reserve will start tapering its massive stimulus early this year.
She also said Manila wants to see the performance of other sovereign issuers such as Sri Lanka this year, adding it was also possible that the country could stay away from the global debt market in 2014.
(AGENCIES)
Follow our WhatsApp channel