SEC says PHL bond inclusion in JPMorgan index reflects reforms

THE Securities and Exchange Commission (SEC) said the inclusion of Philippine government securities in the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) reflects ongoing reforms and alignment with global market standards.

“The inclusion of the Philippine government securities in the GBI-EM underscores the steady progress of reforms by the National Government’s Economic Team, strengthening investor confidence in our capital market,” SEC Chairperson Francisco Ed. Lim said in a statement on Thursday.

“It is a clear validation of the Philippines’ continued alignment with international market standards,” he added.

Philippine government bonds will be included in JPMorgan’s GBI-EM starting Jan. 29, 2027, marking their first entry into the index.

Nine bonds with a combined value of about $49 billion are set for inclusion, with an estimated weight of 1.78%.

The inclusion is expected to attract inflows from index-tracking funds and increase foreign participation in the local bond market.

The SEC said it will continue to coordinate with the Bangko Sentral ng Pilipinas, the Department of Finance, and the Bureau of the Treasury on market regulations and infrastructure.

It added that it will review rules as needed to support foreign investor participation and improve access to global capital markets. — Alexandria Grace C. Magno