Bangko Sentral OKs $2.73B public sector foreign borrowings in Q2

Bangko Sentral OKs $2.73B public sector foreign borrowings in Q2

THE Monetary Board (MB) has approved a total of US$2.73 billion of public sector foreign borrowings in the second quarter of 2023, the central bank reported Friday.

The total is $0.81 billion or 23 percent lower than the $3.54 billion approved in the same period in 2022.

These are all borrowings by the National Government consisting of three project loans from the Japan International Cooperation Agency.

These borrowings will fund the country’s various railway projects. (CSL)

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