Tan retained as national treasurer under Duterte
June 23, 2016 | 3:17pm
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, 62, 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 2010, 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.
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