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Gil Ramos on Bayan Ko Bonds at E-2010 - Nov. 20, 2010

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The E-2010 Post-Conference Report can be found at http://naffaar8.com/e-2010-post-event-report/

The E-2010 Post-Conference Report can be found at http://naffaar8.com/e-2010-post-event-report/

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Gil Ramos on Bayan Ko Bonds at E-2010 - Nov. 20, 2010 Gil Ramos on Bayan Ko Bonds at E-2010 - Nov. 20, 2010 Presentation Transcript

  • 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 $180 billion
    • In terms of world GDP levels, the OFN ranks between 19 th ranked Switzerland and 20 th ranked Belgium
  • THE OVERSEAS FILIPINO NATION (OFN)
    • Official BSP records show that total remittances in 2009 from Overseas Filipinos reached US$ 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
  • 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
  • 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
  • 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.
  • 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!