The Department of Finance, or DoF, said it is considering offering Euro bonds as more overseas Filipino workers become more knowledgeable of investing.

In a media briefing last Friday, Finance Secretary Benjamin Diokno shared many Filipinos and residents abroad have expressed interest in investing in Euro bonds during the economic team's several official trips abroad.

"When we were going around, there was demand for Euro bonds. They might be launched next year," Diokno said.

The finance chief said the government still needs to accommodate the projected higher demand for retail dollar bonds and sukuk or Islamic bonds under its borrowing program for this year.

The Marcos administration aims to raise $5 billion from domestic and external commercial borrowings this year.

Sukuk IOUs in Q4

The Bureau of the Treasury, or BTr, said $2 billion of the total debt is divided equally from the sale of retail dollar bonds, which is being offered until 6 October, and sukuk bonds to be offered in the fourth quarter.

"We're seeing demand for retail dollar bonds. We are confident that until next week we'll be able to raise more than $1 million," BTr officer-in-charge Sharon Almanza said.

Since the bonds were launched last Tuesday, the government has raised $611.2 million.

This is the second tranche of retail dollar bonds with a tenor of five and a half years and a gross interest rate of 5.750 percent per annum which is payable every quarter.The first tranche in 2021 drew almost $1.6 billion from investors.

The economic team recently visited Qatar, United Arab Emirates, Japan, Saudi Arabia, Canada, Estonia and Egypt to update their governments and business communities on investment opportunities in the Southeast Asian country.