Phl holds no-deal roadshow in UK

MANILA, Philippines - Key government officials will be showcasing the country’s recent economic gains and rosy prospects for the medium term in a non-deal roadshow in the United Kingdom that starts today.

In a statement, the Bangko Sentral ng Pilipinas’ Investor Relations Office said the roadshow will run from June 30 to July 3 with an audience of mainly London-based investors in fixed-income securities.

“We would like to impress upon investors outside the country that the Philippines will not merely sit on its latest achievements but will continue to work hard to ensure that recent economy gains are sustainable,” Finance Secretary Cesar V. Purisima said.

The roadshow, meant to keep the Philippines on investors’ radar, follows another held in December in the United States.

The IRO said Philippine officials will highlight the government’s focus on increasing the budget for infrastructure and social services in order to sustain the strong economic growth.

The Philippine economy grew by a stellar 7.2 percent last year from 6.8 percent in 2012. It expanded by a disappointing 5.7 percent in the first quarter but the government has kept its 6.5 to 7.5 percent target growth for the year.

For the BSP’s part, Assistant Governor Ma. Cyd Tuano-Amador said it stands firm in keeping inflation within the three to five percent target for this year and within the two to four percent range for 2015.

“The BSP shall continue to act preemptively against threats to price and financial stability,” Amador stressed.

At the same time, the Philippine delegation will be standing by its liability management efforts, which have helped the country secure its investment grade ratings last year.

“The Bureau of Treasury will continue to deploy debt management strategies, as market to help further enhance the country’s already favorable credit profile,” National Treasurer Rosalia de Leon said.

Purisima, Amador, and De Leon will be joined by Insurance Commission Commissioner Emmanuel Dooc and Government Services Insurance System President Robert Vergara during the four-day roadshow.

The government has tapped HSBC and Standard Chartered Bank as lead arrangers of the roadshow.