FOR the second time, the Bureau of the Treasury’s (BTr) issue of so-called “panda bonds” has met with tremendous success. Administration officials have said this should be considered as a substantial vote of confidence in the Philippine economy and the government’s skill in managing it. They are absolutely correct.
A “panda bond” is a government bond denominated in Chinese renminbi (RMB) and offered for sale to overseas investors. The BTr usually offers bonds denominated in pesos or US dollars, but has occasionally offered them in other currencies; bonds denominated in Japanese yen, for example, are called “samurai bonds.”
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