MANILA - The Philippines is not planning to return to the global bond market this year, National Treasurer Roberto Tan said on Wednesday, in response to market talk that the government was in discussion with banks for a possible deal.

"Not true," Tan told Reuters in a mobile phone text message when asked for a clarification.

Talk of a possible bond sale surfaced after Finance Secretary Margarito Teves told Reuters in an interview in London on Friday the government's P250-billion ($5.3 billion) 2009 budget deficit target was under threat due to falling revenues.