THE higher issuance of government debt papers has led to a 36- percent increase in public sector foreign borrowings approved by the Monetary Board in the third quarter, according to the Bangko Sentral ng Pilipinas (BSP). The BSP said approved public sector foreign borrowings reached $3.
THE higher issuance of government debt papers has led to a 36- percent increase in public sector foreign borrowings approved by the Monetary Board in the third quarter, according to the Bangko Sentral ng Pilipinas .
However, the increase in approved loans was slower compared to the second quarter, which recorded a 43-percent growth. Apart from the bond issuance amounting to $2.5 billion, the approved borrowings included a $778.59-million program loan and two project loans amounting to $535.97 million. During the period, the loans approved by the BSP consist of one bond issuance amounting to $2 billion and three project loans amounting to $1.90 billion.
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