Philippines eyed for JPMorgan bond index inclusion

The Philippines is nearing potential inclusion in JPMorgan's Government Bond Index-Emerging Markets (GBI-EM) after its peso-denominated government bonds were placed on the "Index Watch Positive" list.

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. stated this move is proof of the country's progress in capital market development and an impetus to execute more changes and reforms.

Finance Secretary Ralph Recto added that this promising development will allow the Philippines to tap greater capital inflows to fund social and infrastructure needs.

Inclusion in the index is expected to attract more foreign investors into peso-denominated bonds, boosting liquidity and potentially lowering borrowing costs for the government and private sector.

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