DBP President and Chief Executive Officer Emmanuel G. Herbosa
CALOOCAN CITY, May 12 (PIA) State-owned Development Bank of the Philippines (DBP) is working closely with the Department of Finance (DoF), state regulators and multi-lateral lending institutions in establishing a Local Government Unit (LGU) credit rating system that seeks to mainstream bond flotations as a sustainable financing option for local development projects, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the proposed rating system would provide the bond market with credible risk indicators of individual LGU bonds as well as information on outstanding bond issues which would help buoy confidence and improve risk-appetite of potential investors.
BusinessWorld
May 11, 2021 | 8:28 pm
BUREAU OF CUSTOMS (BoC) collections generated by imports of mobile phones rose 27% year on year to P2 billion in the four months to April following the adoption of an improved valuation system.
The Department of Finance (DoF) said in a statement Tuesday that the increased revenue was accompanied by a 30.4% drop in import volume.
Customs Commissioner Rey Leonardo B. Guerrero said the new valuation system charges tax per device and takes into account the brand of device, and the result reflects the import of higher-end units as well.
The DoF said Customs also generated higher collections from other devices and accessories in the four months.
BusinessWorld
May 9, 2021 | 7:36 pm
PHILIPPINE STAR
THE DEPARTMENT of Budget and Management (DBM) said it is still seeking to identify funding sources for the third economic stimulus package, proposed at P405 billion, as the legislation goes before the House appropriations committee this week.
In an interview with DZBB Sunday, Budget Secretary Wendel E. Avisado said the department is not opposed to the House of Representatives’ desire to pass the Bayanihan to Arise as One bill, known informally as Bayanihan III, but added that its primary concern is finding the money.
“
Bakit nga ba hindi? Ang issue
nga lang, kailangang pag-usapan kung saan manggagaling ng pondo gugulin diyan (Why not? The issue is we need to discuss where the funding will come from),” he said.
End-March state-backed loans to MSMEs surge by sevenfold
May 6, 2021 | 12:06 am
GUARANTEED LOANS to small businesses climbed as of March as Philguarantee Corp. received more funds, the Finance department said. BW FILE PHOTO
STATE-RUN Philippine Guarantee Corp. (Philguarantee) saw its guaranteed loans to micro, small and medium enterprises (MSMEs) surge by sevenfold as of March from the end-2020 level after receiving the P5 billion in additional funds from the government’s second stimulus package.
The Department of Finance (DoF) reported on Wednesday that Philguarantee’s overall guaranteed loans to MSMEs jumped by 612% to P1.47 billion as of March from P207 million in December 2020. The statement quoted a report from the state-run firm’s president and CEO Alberto E. Pascual.
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