Bureau of Treasury(BTr)

Hi! I came across an information regarding the Progreso Bonds RTB-24 which is offered to the public to invest in the government. I read a document titled Retail Treasury Bonds Tranche 24 Offer period July 16 -August 7, 2020. I have questions. 

1. What are the instances Philippine government defaults on its obligations with Progreso Bond?
2. The bonds maturity date is August 12, 2025 five(5) years. After five(5) years, what if there is a change in the Philippine Government (2022). Is there a chance this could be canceled/ junked by the new Government? 
3. What safety for the investors?

July 22, 2020

Dear Mel,

Greetings!

Thank you for your request dated Jul 21, 2020 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your request

You asked for Progreso Bond / Retail Treasury Bonds Tranche 24.

Response to your request

We were able to determine that this particular information is already available online and therefore cannot be counted as a valid FOI request. You may retrieve your requested information from the Bureau of the Treasury website at this link for details: https://www.treasury.gov.ph/wp-content/uploads/2020/07/RTB-24-Flyer-with-rate.pdf

Your right to request a review

If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to Dir. Robert Dominick E. Mariano - Research Service. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request.

If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011).

Thank you.

Respectfully,
Ms. Joan Samson
FOI Officer