THE PHILIPPINES has slipped in rankings for investor relations (IR) and debt transparency compiled by the Institute of International Finance (IIF).
In its 2025 Investor Relations and Debt Transparency Report, the Philippines, which scored 49.3 out of 50 was displaced by Indonesia for first place, with a score of 49.4.
“The Philippines ranked among the top five countries with the highest IR scores in 2023, 2024 and 2025,” the IIF said.
Other top performers were Brazil (49.0), Türkiye (48.4), and Hungary (47.2). The global average was 36.1, up from 34.1 in 2024.
Last year, the Philippines scored 48.8 and topped the IR rankings.
The IIF annually reviews emerging-market borrowers for adherence to best practices.
In addition, the IIF said the Philippines met 91% of all IR assessment criteria.
The Philippines also lost its place as first in debt transparency to Türkiye (12.8) and Indonesia (12.4.). Its score of 12.3 out of 13 was tied by Brazil and Chile.
The Philippines took top spot in terms of ESG Data and Policy Dissemination Scores, a subset of the headline IR country score, which assesses sovereign borrowers’ ESG data and policy dissemination practices.
“The highest ESG Data and Policy Dissemination Scores in 2025 were attained by the Philippines, Türkiye, Hungary, Uruguay, and Chile, all achieving a score of 4, followed closely by Indonesia, Egypt, Uzbekistan and the Dominican Republic (3.9 each),” it said.
According to the IIF, the Philippines should improve disclosure of available data on non-resident holdings of private debt issued domestically.
The IIF’s evaluation of ESG data and policy dissemination practices considers the availability of ESG data, including information on the environmental and social dimensions of budgetary and fiscal policies from a forward-looking perspective, as well as ESG debt issuances and supporting documents. — Aubrey Rose A. Inosante