The government met with officials from JP Morgan to look into potential areas of collaboration and initiatives in the Philippine capital market.
In a social media post, the Department of Finance (DOF) said the discussions included the progress in the inclusion of the government-issued securities in the JP Morgan Bond Index.
However, no details were disclosed.
The DOF said this inclusion would enhance foreign investor access to peso-denominated government bonds, reduce friction costs and strengthen the country’s investment attractiveness.
The talks, led by Finance Secretary Ralph Recto on the government’s side, also included JP Morgan’s ongoing operations in the Philippines as well as other avenues for partnership.
JP Morgan is a leading global financial services firm that offers solutions to the world’s largest corporations, governments and institutions.
Among senior officials from JP Morgan present were vice chair for public sector Daniel Zelikow; managing director, senior country officer and head of banking for the Philippines Carlos Mendoza; managing director and head of public sector coverage for Asia Pacific Karl Yeh; and executive director and head of global corporate banking for Philippines Louie Maloles.
