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Philippines seeks new P540-B debt from BSP

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Philippines seeks new P540-B debt from BSP

THE Philippine government is seeking a new P540-billion ($11.2 billion) loan from the central bank to aid in pandemic relief measures, Treasurer Rosalia de Leon said.

The request for a new loan was transmitted to the central bank after the government repaid its previous debt of the same amount due Tuesday, Ms. De Leon said in a mobile-phone message.

This is the third time that the government has requested support from the Bangko Sentral ng Pilipinas (BSP). The monetary authority extended advances of P300 billion in March and P540 billion in October. — Bloomberg