Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
The International Monetary Fund has called for the swift restoration of the capital of state-owned lenders following their infusions into the country's first sovereign wealth fund under the Maharlika Investment Corp . .In a staff report, the IMF cited the importance of topping up the capital of both the Land Bank of the Philippines and the Development Bank of the Philippines , both of which contributed to the start-up capital of MIC.
LandBank then had an authorized capital stock of P200 billion, while DBP had P35 billion.In terms of total assets, LandBank was the second-largest big bank as of end-September 2024 with P3.185 trillion, and DBP the tenth with P965.438 billion.For their part, the LandBank and the DBP have earlier allayed fears that depositors' savings would be affected by the capital infusion into the seed capital of the MIF."Depositors are with a bank that is liquid and stable.
Maharlika Investment Corp Maharlika Funds Maharlika Corporation Imf International Monetary Fund
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IMF Urges Capital Restroration Plans for LandBank, DBP After MIC ContributionsThe IMF warns of potential risks to the Philippine financial system if capital restoration plans for LandBank and DBP are not implemented promptly following their contributions to the MIC.
Read more »
Philippine President Expresses Concern Over Russian Submarine in West Philippine SeaPresident Ferdinand Marcos Jr. has expressed worry over the detection of a Russian attack submarine in the West Philippine Sea (WPS). The submarine, UFA 490, was sighted 80 nautical miles west of Cape Calavite, with the Philippine Navy deploying assets to monitor and address the situation.
Read more »
Philippine Troops Celebrate Christmas in West Philippine Sea OutpostThe Armed Forces of the Philippines (AFP) successfully completed a rotation and resupply (RoRe) mission to nine island features in the West Philippine Sea (WPS), delivering Noche Buena packages to troops stationed there. The missions, conducted from December 3 to 14, involved various naval assets from the AFP’s Western Command and were carried out amidst the presence of Chinese Coast Guard and PLA Navy ships in the vicinity. Rear Admiral Roy Vincent Trinidad, Philippine Navy Spokesperson for WPS, emphasized the importance of the mission in boosting troop morale and ensuring their continued presence in the WPS.
Read more »
LTFRB: P60 taxi flag-down rate under reviewLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Marcos orders CITEM reorganizationLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Marcos declares October as National Agriculture and Fisheries Extension Services MonthLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »