Gil Ramos on Bayan Ko Bonds at E-2010 - Nov. 20, 2010
- 1. 1.1 © 2010 by Prentice Hall
THE OVERSEAS
FILIPINO NATION (OFN)
• The Filipino diaspora is a virtual country –
the OVERSEAS FILIPINO NATION
• Total estimated income of Overseas Filipinos
is estimated to be US$493 billion
• This is more than double the Philippine GDP
of $180 billion
• In terms of world GDP levels, the OFN ranks
between 19th
ranked Switzerland and 20th
ranked Belgium
- 2. 1.2 © 2010 by Prentice Hall
THE OVERSEAS
FILIPINO NATION (OFN)
• Official BSP records show that total
remittances in 2009 from Overseas Filipinos
reached US$ 17.3 billion and this is projected
to increase to US$18.5 billion in 2010
• Remittances from overseas Filipinos is the
second largest source of foreign exchange for
the Philippines
• 75% of remittances comes from Filipinos in
the U.S.
• Remittances are mostly consumption-driven
- 3. 1.3 © 2010 by Prentice Hall
MOBILIZING THE
OVERSEAS FILIPINO NATION (OFN)
• The Aquino Administration can and
should dramatically increase these
remittances by :
providing an investment vehicle to tap into
the assets of the OFN
appealing to the patriotism of the OFN and
our desire to help and contribute to the
development of the Philippines
- 4. 1.4 © 2010 by Prentice Hall
Mobilizing the OFN
• Bayan Ko Bonds are a way of leveraging the patriotic
zeal and generosity of the OFN to help the
Motherland.
• It offers a means to satisfy the OFN’s altruistic desire
while earning a satisfactory rate of return and
therefore provide opportunity to raise more money
• The track records of Israel and India in distributing
diaspora bonds show the viability and attractivenes
of this financial vehicle successfully raising close to
$40 billion over the years
- 5. 1.5 © 2010 by Prentice Hall
Why Not!
• Harnessing the potential of the OFN as
a major force for development has been
largely untapped.
• BKB is an innovation that can help
fulfill President Aquino’s call for
Public-Private Partnership between the
Philippine Government and the OFN.
- 6. 1.6 © 2010 by Prentice Hall
Why Not!
• BKBs can productively engage the OFN
to work on a common cause that can
have a direct and sustained impact on
Philippine economic growth.
• If Israel and India can do it, why not the
Philippines!
- 7. 1.6 © 2010 by Prentice Hall
Why Not!
• BKBs can productively engage the OFN
to work on a common cause that can
have a direct and sustained impact on
Philippine economic growth.
• If Israel and India can do it, why not the
Philippines!