By ASA T. MADALE
June 14, 2019
ILIGAN CITY: The government plans to add sweeteners to make the debt paper it will sell to raise more funds for the reconstruction of war-torn Marawi City more palatable when rehabilitation moves to its second stage, the Department of Finance (DOF), said Thursday.
In a statement, Finance Secretary Carlos G. Dominguez III said the Marawi bond issuance would happen when the Bangon Maraw Comprehensive Rehabilitation and Recovery Program (BMCRRP) would start requiring cash for large-scale infrastrure projects.
The Bureau of Treasury was already preparing to auction off Marawi bonds, with the DOF quoting National Treasurer Rosalia V. de Leon as saying that “the government has been exploring several structures and features to make (the IOUs) appealing to both institutional investors and retail bond buyers.”
Meanwhile, billions of pesos are being spent already for the reconstruction of Marawi which was hit by the siege laid on the Islamic city by the Maute group but the actual rehabilitation has not yet begun. (With a story from the INQUIRER.NET/ATM/RSP).