Philippine Ministry of Finance postpones the issuance of US dollar denominated retail treasury bond bonds

According to the Manila Times of the Philippines on May 15, the Philippine Ministry of Finance recently said that due to the weak exchange rate of the peso against the US dollar, it would again delay the issuance of retail treasury bond bonds (RTBs) of about US $2 billion. As part of the diversification of funding sources in the Philippines, the Philippine government provided RTBs denominated in US dollars for the first time in September 2021, and raised a total of $1.6 billion by selling 5-year and 10-year bonds. The minimum placement amount for RTB is $300, which is much lower than the minimum investment amount of $200000 for government dollar denominated bonds.