Dominguez added that the national government will also repay the full amount of its outstanding P540-billion loan from the BSP this week, ahead of the January 12, 2022 maturity date.
The Finance chief said the smaller loan signals to the market “that we are on track with the unwinding of liquidity support on firmer evidence of return to economic strength.” The loans, which started in 2020, were meant to tide the government over while revenue generation was weak and financial markets were unpredictable amid the pandemic.
“The extension of a new P300-billion provisional advances will ensure sufficient resources for the government to safeguard this promising but still fragile recovery,” Dominguez said. The new P300-billion loan will also have zero interest, and a three-month maturity with another three-month extension.
Sana ayusin ang paggamit ng inutang dhil ang dami n po nming utang n di nmin inutang...
Matatapos nalang ang term mag dadagdag pa ng utang. Ano yan pabaon?
DuterteLegacy
How much of this will line the pockets of corrupt officials or be used for the 2022 election campaign? Duterte regime public debt is over $201B already, the budget deficit will make it harder to sustain growth and development for coming generations.
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