Finance Secretary Benjamin Diokno expressed his satisfaction with the Philippines’ placement in the Institute of International Finance (IIF)’s 2023 Investor Relations and Debt Transparency Report.
Diokno made the remarks late Monday as the Philippines ranked 3rd out of 41 countries in terms of investor relations (IR) practices.
The Philippines attained an IR country score of 47.8 out of 50, which is higher by 6.4 index points compared to the previous year’s report where it stood at the 12th spot.
Diokno attributed the feat to the concerted investor relations efforts of the economic team.
“We have been strategic in the conduct of bilateral meetings, non-deal roadshows, and investor attraction engagements such as the Philippine Economic Briefings abroad, which have given us the platform to inspire confidence in the Philippines’ strong economic performance and favorable macroeconomic fundamentals,” Diokno said.
According to Department of Finance, strong international relations (IR) programs contribute to countries’ endeavors to secure stable and affordable access to global debt markets and effectively attract international private capital to support worldwide climate and sustainable development objectives.
The said report examines diverse IR practices in emerging markets and developing nations and ranks specific countries based on their adherence to standard IR practices and debt transparency measurements.
The evaluation comprises three scores: the IR Country Score, Debt Transparency Score, and ESG Data and Policy Dissemination Score.
Debt transparency, a component of the overall IR country score, evaluates how sovereign borrowers share their data and policies, with a maximum score of 13.
The Philippines improved its performance, earning a score of 11.8, and secured the second position, surpassing Indonesia (5th), Malaysia (14th), Thailand (17th), China (32nd), and Vietnam (34th), compared to its previous 20th spot.
Furthermore, the ranking for Environmental, Social, and Governance (ESG) Data and Policy Dissemination assesses the availability of ESG data, the provision of ESG-related statistics for risk assessments, and the incorporation of investor feedback in policy decisions related to sharing ESG information.
In this category, the Philippines made significant progress, moving up to third place from its previous 16th position, achieving a score of 3.9 out of 4.
The International Institute of Finance (IIF) is a global association representing the financial industry, comprising approximately 400 members from over 60 countries. It offers its members global economic and financial research, advocacy, and opportunities to participate in prominent industry events.