Philippines Seeks New $11 Billion Debt From Central Bank

The Philippine Treasurer Rosalia de Leon said that the government is seeking a new 540 billion-peso ($11.2 billion) loan from the central bank to aid in pandemic relief measures, Bloomberg News reported. The request for a new loan was transmitted to the central bank after the government repaid its previous debt of the same amount due on Tuesday, de Leon said. This is the third time that the government has requested support from the Bangko Sentral ng Pilipinas. The monetary authority extended advances of 300 billion pesos in March and 540 billion pesos in October. Read more.