(mikeligalig.com) – The Philippines has clinched the top spot in the 2024 Investor Relations (IR) and Debt Transparency Report, according to the Institute of International Finance (IIF), a Washington DC-based organization.
The Southeast Asian nation improved its ranking from third place in 2023 to first among 50 countries this year, with its score rising to 48.88 out of 50 points from 47.8 last year.
Indonesia followed closely with 48.75 points, while Turkey, Brazil, and Hungary rounded out the top five with scores of 48.38, 47.50, and 47.21 respectively.
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. welcomed the recognition, stating, “We remain committed to working closely with the economic team in transparently communicating the country’s macroeconomic fundamentals and ongoing reforms.”
The report highlighted the Philippines’ exceptional efforts in investor engagement and transparency, particularly in providing access to macroeconomic and environmental, social, and governance (ESG) data and policy information.
The country’s IR program includes discussions between economic agencies and credit rating agencies, communication with global and local banks, and organizing investor briefings domestically and internationally.
The IIF assessment, which sets standards for best practices in IR and data dissemination for emerging markets and developing countries, combines desk research with a survey of countries maintaining active IR programs. The evaluation determines the IR Country Score, Debt Transparency Score, and ESG Data and Policy Dissemination Score.
The IR country score is based on 23 criteria, while the Debt Transparency Score and ESG Data and Policy Dissemination score are subsets focusing on sovereign borrowers’ data and policy dissemination practices.
BSP said the achievement reflects the Philippines’ commitment to maintaining transparency and fostering strong relationships with investors, potentially boosting its attractiveness as an investment destination.