Bonds:
According to a few bankers, the Philippines government asked banks to submit proposals to manage its 3rd sale of dollar-denominated bonds this year. Treasurer Roberto Tan has stated that the government is "evaluating" a U.S. currency sale, but has yet to verify the bankers' statement. Last week, Finance Secretary Gary Teves said the government may sell at least $250 million of dollar bonds in response to this year's record budget shortfall, which has been exacerbated by the recent flooding. More info here.Kidnapped:
Father Michael Sinnott, a 79-year old Irish missionary, was kidnapped yesterday by 6 gunmen in Pagadian City, Mindanao. Father Sinnott, who has been in the Philippines since 1976, runs a school for children with hearing difficulties. No group has yet claimed responsibility for the kidnap, but there is suspicion of the Abu Sayyaf, an al-Qaida linked guerilla group.
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