The Duterte administration has substantially reduced new financing last August, taking up only about a fifth of the amount it borrowed from a year earlier, data from the Bureau of the Treasury showed. Gross borrowings only reached P117.74 billion in August which was 81 percent lower or by P495...
The nation government’s debt stock advanced at a much slower pace in August as debt repayments to foreign creditors softened the increase in domestic borrowings, data from the Bureau of the Treasury showed. The national government's outstanding obligations reached P11.642 trillion as of August...
Pag-IBIG Fund has made its cash loans more affordable by lengthening its payment term to three years, its top officials announced on last Thursday, Sept. 9, 2021. “During these difficult times, we continue to improve our programs to respond to the needs of our members. Last year, we launched...
The Department of Finance (DOF) reported it has disbursed $19.8 billion of the total foreign loans and grants for coronavirus response of the Duterte administration. DOF Building in Manila Since the pandemic began last year, the government’s COVID-19 war chest from foreign financing and grant...
President Duterte’s chief economic manager bucked the legislative proposals seeking to set a statutory debt limit and create the government’s committee in charge of fiscal discipline. Finance Secretary Carlos G. Dominguez During the House ways and means committee hearing on Monday, Sept.6,...
Government loans from local and foreign banks increased by more than double in July this year. Data from the Bureau of the Treasury showed that the Duterte administration’s gross borrowings jumped 150 percent last July to P337.36 billion from P134.53 billion in the same month last year. According...
Senator Pia Cayetano has called on the Inter-Agency Task Force (IATF) to provide Congress updates on the status of the government’s loans and answer queries regarding the terms of purchase of COVID-19 vaccines which until now seems to be problematic. Cayetano, who chairs the Senate ways and means...
Government-run National Electrification Administration (NEA) has extended P5.628 billion worth of loans to electric cooperatives (ECs) at the duration of the Duterte administration. According to NEA Administrator Edgardo R. Masongsong, the loans extended to the ECs had been via the agency’s...
Representative Lucy Torres-Gomez (4th District, Leyte) on Monday pressed the national government to provide low-interest loans to owners of small and medium businesses to use as working capital so they can grow or expand their investments. Torres-Gomez said doing so would help them withstand the...
The central bank’s Monetary Board has approved $2.8 billion worth of government or public sector foreign borrowings in the second quarter this year, down by 59 percent from same time in 2020 of $6.84 billion. The government raised EUR2.10 billion ($2.49 billion) from a Euro-denominated bond...
The Land Bank of the Philippines (LANDBANK) had so far released more than P13 billion in loans and cash grants to nearly a million farmers and fishermen for this year, the bank's latest data showed. As of May 31, LANDBANK has assisted cumulatively 2.7 million farmers and fishers nationwide, of...
Senator Panfilo “Ping” Lacson on Friday said the P57.3-billion worth of loans the government has successfully secured can already cover the P25-billioin budgetary requirement for the vaccination of minors. With these borrowings, Lacson said there may not be any need for the government to look...
