BSP to lend P300-B to gov't for economic recovery

The national government has requested a PHP300 billion bridge financing from the Bangko Sentral ng Pilipinas (BSP) to support economic recovery amid the pandemic.

This amount is lower than the previous loan of PHP540 billion granted in July 2021, reflecting an improved economic outlook.

The Monetary Board approved this provisional advance on December 16, 2021, after the government fully settled its outstanding obligation on December 10, 2021.

Finance Secretary Carlos Dominguez III attributed the lower loan amount to a signal of strong monetary and fiscal coordination ensuring resilience during the crisis.