• The public sector’s foreign borrowings approved by the Bangko Sentral ng Pilipinas (BSP) went down by 48 percent to $2.87 billion in the first quarter from $5.56 billion recorded a year ago.
  • The BSP approved two project loans worth $850 million and two program loans amounting to $2.02 billion from January to March.
  • “These borrowings will fund the national government’s projects on infrastructure ($850 million) and programs on policy reforms in health care ($910 million), digital transformation ($410 million), tax administration ($400 million) and inclusive finance development ($300 million),” the BSP said.

https://www.philstar.com/business/2024/04/16/2347922/foreign-borrowings-nearly-halved-q1