MANILA, Philippines — The Department of Finance said Thursday the government will issue the so-called Marawi bonds once building of large-scale infrastructure projects in the war-torn city starts. In a statement, the DOF said the government is studying several features to make the Marawi bonds attractive to investors in a bid to raise more funds for the “cash-intensive phase” of the rehabilitation plan. “When we start getting into the bigger expenditures, then we will be issuing the Marawi bonds,” Finance Secretary Carlos Dominguez III said. In May 2017, President Rodrigo Duterte imposed martial law across Mindanao on the day the principal Islamic city of Marawi was stormed by heavily-armed homegrown extremists who pledged allegiance to ISIS. After five months of fighting, Duterte declared Marawi liberated from extremists.

Source: Philippine Star June 13, 2019 10:41 UTC