Daily News

Gov’t eyes up to $2-Bn loan

The country is looking to borrow up to $2 billion from multilateral lenders to support increased spending to stem the impact of the coronavirus disease 2019 (COVID-19), the Finance chief said, adding the government’s fiscal position is sound and can accommodate larger debt to plug its budget deficit. Finance Secretary Carlos Dominguez III said the Finance department is looking to tap multilateral lenders for grants and loans to provide the needed funding, including the World Bank, Asian Development Bank and Asian Infrastructure Investment Bank.