THE MONETARY BOARD (MB) has approved $3.9 billion of public sector foreign borrowings in the second quarter, the Bangko Sentral ng Pilipinas (BSP) said.
Approved public sector foreign borrowings were 43% higher than $2.73 billion recorded approvals in the April-to-June period a year ago, the BSP said in a statement on Monday.
It was also up by 35.9% from $2.87 billion worth of foreign borrowings by the public sector in the first quarter.
Broken down, the central bank approved a bond issuance worth $2 billion and three project loans amounting to $1.9 billion.
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