The Bangko Sentral ng Pilipinas (BSP) on Wednesday, Aug. 2, has issued an advisory reminding both the public or government sector, and private entities, such as banks and corporates, to submit its foreign borrowing plans by Sept. 30 this year.
The Bangko Sentral ng Pilipinas on Wednesday, Aug. 2, has issued an advisory reminding both the public or government sector, and private entities, such as banks and corporates, to submit its foreign borrowing plans by Sept. 30 this year.The BSP is mandated to review all foreign borrowing plans for external debt management under the rules of the country’s foreign exchange transactions and policies.
In every review of the country’s foreign borrowing plans, the BSP also takes into consideration any foreign borrowing limit if they have one, at any given year. The BSP also wants to know the purpose – particularly the private sector’s – why they have to borrow from overseas. Banks, foreign parent companies and affiliates, borrow offshore via the issuance of bonds or securities in the international capital markets.
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