The country has topped 49 countries in debt transparency and investor relations based on a report by the Institute of International Finance (IIF).

The Department of Finance (DoF) shared this on Saturday through a Facebook post which showed the country’s nearly perfect scores for debt transparency at 12.5 out of 13, and investor relations at 48.8 out of 50.

In terms of debt transparency, the Philippines was followed by Indonesia, Türkiye, Uruguay and Brazil based on the 2024 IIF Investor Relations and Debtn terms of debt transparency, the Philippines was followed by Indonesia, Türkiye, Uruguay and Brazil based on the 2024 IIF Investor Relations and Debt Transparency Report: The Vital Role of Investor Relations in Supporting Stable Capital Flows. Transparency Report: The Vital Role of Investor Relations in Supporting Stable Capital Flows.

Most important

“Transparency is most important, especially in debt. We release data quarterly, among others. We have to show the public where the taxes and borrowings go,” DoF Secretary Ralph Recto said.

In terms of investor relations, Indonesia and Türkiye again succeeded the Philippines for the top three. Brazil and Uruguay ranked fourth and fifth, respectively.

“In today’s complex investment landscape shaped by political uncertainty, geopolitical tensions, high debt and deficits, and substantial climate change mitigation and adaptation funding needs, strong sovereign investor relations practices can be an important ‘pull’ factor for capital flows,” IIF said.

The IIF has a network of commercial and investment banks, asset managers, insurance companies, professional services firms, exchanges, sovereign wealth funds, hedge funds, central banks, and development banks in 60 countries.

The IFF said the countries with the highest scores regularly disclosed debt levels, coverage, and policies to creditors and maintain a public database on domestic and foreign debts as required by the IIF Best Practices for Investor Relations.

The global institute added members are also encouraged to disseminate information on environmental impacts of budgetary and fiscal policies.

Effective tool for sovereign borrower

“These programs serve as an effective tool for sovereign borrowers to actively engage both private and public creditors as well as ratings agencies, bridging information asymmetries that could act as a major hurdle in mobilizing international capital towards achieving global climate and broader sustainable development goals,” IIF said.

“Our job in the Department of Finance is to stretch every peso. More bang for the buck. Growth should be higher than borrowings, so we can pay for it,” Recto added.

Global credit analyst Fitch Ratings recently affirmed the Philippines’ investment grade rating at BBB with a stable outlook after noting the country’s robust medium-term growth potential and manageable debt level.