Q2 public-sector loans rise to $3.9B

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Q2 public-sector loans rise to $3.9B - Business Mirror

Quick Summary:

THE public-sector loans approved by the Monetary Board (MB), the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP), posted a double-digit growth in the second quarter of 2024 compared to the same period a year ago.

The BSP said in a statement that it “promotes the judicious use of the resources and ensures that external debt requirements are at manageable levels, to support external debt sustainability.

The BSP noted the Letter of Instructions No.158 dated January 21, 1974, which requires all foreign borrowing proposals by the national government, government agencies and government financial institutions to be submitted for approval-in-principle by the Monetary Board before commencement of actual negotiations.