The Philippines is making efforts to strengthen its capital market in order to sustain its rapid economic growth.

The government is reintroducing interest rate swaps and expanding the market for bond repurchase agreements, which are expected to provide alternative benchmarks for loan pricing.

This initiative is important as the country prepares for increased capital demands, particularly for major projects such as the potential revival of a controversial nuclear facility, as well as improvements in airports and infrastructure.

The Governor of the Bangko Sentral ng Pilipinas, Eli Remolona, is leading the efforts to deepen the capital market, which will allow businesses to access funding beyond traditional bank loans.

This development is expected to create more financing options for enterprises and attract a wider range of investors, ultimately supporting the Philippines' economic momentum.

Financial authorities are optimistic about the potential impact of these changes on the country's growth trajectory.