Gov't, GCash prepare to launch GBonds in December 

The government and Gcash will launch the innovative GBonds in December to make investing easier and more accessible for the public, according to a report by Philippine News Agency.

In a statement on Wednesday, the Department of Finance said Secretary Ralph Recto made the announcement in his speech at the Bureau of the Treasury's 127th anniversary and government securities-eligible dealers (GSEDs) awarding ceremony on Nov. 12.

“For we envision a future where investing in government bonds is no longer a luxury but a new normal for Filipinos —with just a few swipes away and as easy as ordering their favorite food delivery. This empowers our people to effortlessly secure their future, all from the comfort of their homes,” Recto said.

Recto called on GCash, the Philippine Digital Asset Exchange (PDAX), Inc., and regulators to speed up the process of launching the GBonds to bring the government closer to achieving financial inclusion for Filipinos.

“[A]s we push for greater retail participation and digital transformation, let me assure you that the economic team will continue fostering a stronger economy that provides favorable conditions for growth and investment,” he said.

With the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, Recto expects to bring in more investments that create high-quality jobs to increase people’s incomes, enhance their capacity to invest, and ultimately reduce poverty across the country.

“And rest assured, we will use every peso invested by our people in government bonds for public projects and programs that ensure prosperity for their lives and the future of their children,” he said.

In his speech, Recto, meanwhile, highlighted GSEDs role in nation-building by helping the government raise funds and promote financial inclusion among Filipinos.

GSEDs are Securities and Exchange Commission (SEC)-licensed securities dealers belonging to one of the financial service industries regulated by a government agency, such as the Bangko Sentral ng Pilipinas (BSP), SEC, or the Insurance Commission (IC).

They are eligible to participate in the primary auction of government securities, helping promote depth and liquidity in the government securities market through position-taking and market-making in the secondary market, as well as support the capital market development initiatives of the Bureau of the Treasury (BTr).

Recto said that in 2024, GSEDs were able to help raise PHP586.84 billion from the government’s 30th Retail Treasury Bond (RTB) offering.

“This was the highest amount ever obtained of all our RTBs, fulfilling over a fifth of our financing requirement for the year in a cost-effective manner. For this historic feat, I commend our GSEDs, especially the top 10 of them, for relentlessly reaching out to our investing public, especially our retail sector and ordinary Filipinos,” he said.