PH debt to swell to P 9.59T as gov’t borrows more to fight COVID-19

PH debt to swell to P 9.59T as gov’t borrows more to fight COVID-19

This year’s expected weak revenue take has forced the government to borrow more and in the process jack up the debt stock to a record-high P9.59 trillion by year’s end. The Cabinet-level Development Budget Coordination Committee’s (DBCC) projected end-2020 outstanding debt level is equivalent to 49.8 percent of gross domestic product (GDP), Finance Undersecretary Gil […]
ADB lends $1.5B for PH fight vs COVID-19

ADB lends $1.5B for PH fight vs COVID-19

The Asian Development Bank (ADB) has green-lighted a $1.5-billion quick-disbursing loan for the Philippines, its host-country, to aid in the fight against the COVID-19 disease. “The ADB’s COVID-19 active response and expenditure support (Cares) program will support...