THE government is looking at "all options" as it considers staging new offshore bond issuances, a Cabinet official said on Thursday.

"All options are open as we evaluate the alternatives against longer tenors, lower cost and less exchange rate risk," Finance Secretary Carlos Dominguez 3rd told reporters.

Dominguez earlier in the day confirmed that the government was looking at more offshore bond offerings after successful exercises earlier this year.

"We issued three very successful ones this year, $3 billion in the US market. We have issued $2.5 million equivalent in euros and around $500 million in the samurai market. All were very well received," he said.

Dominguez downplayed fears about the level of government borrowings, claiming that it remained manageable.

"Well, in our case ... we think that a maximum of 60 percent debt to GDP (gross domestic product) ratio is manageable for us. And we believe that our economy is going to be very robust, as soon as the restrictions on mobility are lifted," he said.

Latest Treasury data show that the government had borrowed a total of P2.38 trillion as of end-August. Domestic financing totaled P1.92 trillion while external borrowings amounted P458.50 trillion.

In a related development, the Bangko Sentral ng Pilipinas (BSP) said the national government may no longer require further bridge financing as the economy gradually reopens.

"The way I see it, the number of (Covid-19) cases has been cut by half. We're now opening the economy. Maybe there's no more need for the P540-billion bridge financing from the Department of Finance," central bank Governor Benjamin Diokno said.

The Monetary Board approved a P540-billion zero-interest loan to the government in July.