MANILA, Philippines- Sinabi ni Finance Secretary Benjamin Diokn na ang sovereign credit rating na nag-upgrade o tumaas sa ‘A’ ay makapagpapababa sa borrowing costs para sa Pilipinas at makapagpapataas sa investor confidence.
“It would indicate that the risk of default is low and the repayment capacity is strong,” ayon sa Kalihim.
“If we have an ‘A’ credit rating, the borrowing cost of the government will, of course, decline and also the private sector’s… It would improve the lives of the people because they could borrow at lower rates,” sabi pa rin ni Diokno.
Noong nakaraang buwan, binanggit ni Diokno na target ng pamahalaan na makakuha ng A-level credit rating mula sa isa sa tatlong major debt watchdogs: Fitch Ratings, Standard & Poor’s, at Moody’s.
“With the credit rating upgrade, it will lower the borrowing cost of the government… that will provide savings for the national government,” ayon naman kay Finance Undersecretary Zeno Abenoja.
Sa kasalukuyan ay mayroong rating na “BBB” o good credit quality mula sa Fitch, ang Pilipinas.
Sa S&P, binigyan ang bansa ng “BBB+” investment grade rating na nangangahulugan ng “adequate capacity” na bayaran ang financial obligations.
Samantala, binigyan naman ng Moody’s ng “Baa2” rating ang bansa, na nangangahulugan ng moderate credit risk.
“It is important to note that we managed to maintain investor-grade ratings even during the pandemic, while other countries were downgraded,” ani Diokno.
Binigyang-diin ng Kalihim na ‘A’ credit rating “would affirm the Philippines’ creditworthiness and would serve as a strong signal to local and international business and financial communities that the country is conducive to long-term investments.”
“In turn, this will increase investment and will eventually help us achieve our long-term economic plans,” aniya pa rin.
Tinuran pa nito na ang Inter-Agency Committee (IAC) ukol sa Road to A Credit Rating Agenda ay inorganisa ng DOF at Bangko Sentral ng Pilipinas noong 2019 para sa layuning makamit ang A-level rating.
“It [IAC] aims to effectively coordinate the efforts of member agencies to develop, execute, and monitor the implementation of the Road to A Roadmap. Moreover, the IAC aims to enhance engagements with analysts and investors; coordinate engagements with credit rating agencies and third-party raters; and increase the Philippines’ visibility through traditional and technology-based platforms,” paglalahad ni Diokno.
Winika pa nito na ang IAC ay mayroong “three-pronged strategy” na nakatuon sa: “one, achieving solid economic growth; two, prudent fiscal management; and three, strong governance standards and institutions.”
“On growth, the country must raise living standards at par with other middle-income economies; pursue sound macro management to ensure sustained economic growth without imbalances; address infrastructure gaps by accelerating high- quality and high-impact investment spending; exercise prudence in incurring deficits, maintain sufficient buffers against external headwinds; and strike an optimal balance between financial sector stability and productive utilization of liquidity,” ani Diokno.
Ukol naman sa fiscal management, sinabi ni Diokno na kailangang mapanatili ng pamahalaan ang tax reform habang pinananatili naman ang “growth-oriented fiscal operations and balance risk-and-return trade-offs” sa pamamagitan ng napakahigpit na “debt management at diversification.’
“And lastly, on governance standards and institutions, the government will continue to: create a vigorous investment environment that would stimulate investment inflows; safeguard central bank independence in crafting monetary policy geared towards price stability; pursue structural reforms that improve institutions and social services; and engage in global initiatives to mitigate the perennial damages brought by climate change,” litaniya ni Diokno.
Inulit naman nito na “our ultimate goal is to get an A rating before the end of the President’s term.”
“We’re fully aware that this is not going to be a walk in the park. But we are committed to work unceasingly to achieve our lofty goal,” aniya pa rin. Kris Jose