IIF Report

   

The Philippines achieved a top performance and scored highly in the Institute of International Finance's (IIF) Investor Relations and Debt Transparency Report 2024, achieving almost full marks. This result is a testament to the Department of Finance's (DOF) proactive efforts to “strengthen public trust and engagement” and “sets a global benchmark,” Finance Secretary Ralph G. Recto said.

     

The Institute of International Finance report looks at two main categories: investor relations and debt transparency.

    

In the debt transparency category, the Philippines scored 12.5 out of 13, the highest score among the 50 countries analyzed by the Washington, D.C.-based association. The score is based on an overall assessment of a country's handling and treatment of debt-related information. In addition, compliance with International Monetary Fund standards, data handling and access to macroeconomic and environmental, social and governance (ESG) data are also taken into account. The Debt Transparency Score assesses sovereign borrowers' data and policy dissemination practices, particularly adherence to transparency practices, ease of use of macroeconomic and ESG data formats, and more.

     

The Philippines was the only country besides Uruguay to receive a perfect score of 4 in the ESG (Environmental, Social and Governance) Data and Policy Dissemination Score, which assesses the availability of ESG data, while the global average was 2.4.

    

In the second category, Investment Relations, the Philippines scored almost full marks and the highest score with a total of 48.8 out of 50 points, earning it first place in the survey. Last year, the Philippines scored 47.8 points. This result is based on an assessment of 23 criteria, including, for example, the practice of regular self-assessment, the dissemination of macroeconomic data and policy information, the quality of the investor relations website and the availability of feedback and communication channels.

The overall result confirms a high level of transparency offered by the Philippines and demonstrates “robust practices and effective engagement with international creditors”, as “strong investor relations and transparent debt practices are reflected in higher sovereign creditworthiness and improved capital flows”, as the IIF explains.​