The Philippines is preparing to issue overseas bonds in H1 2024 to fund the government’s spending initiatives. The timing for this bond offering is being carefully considered, with a focus on USD-denominated bonds, although the possibility of issuing in other currencies remains open. Meanwhile, the Philippine central bank noted it might maintain its current policy settings even if April’s inflation hits 4%. The central bank maintains a hawkish stance but anticipates a potential easing to 3% inflation in the coming months, which could provide room for rate cuts.