BSP approves $17.7B in foreign loans for pandemic response

In 2020, the Bangko Sentral ng Pilipinas (BSP) approved $17.7 billion in foreign loans, an 82.5% increase from the previous year.

The surge was mainly due to higher bond issuances and program loans, which increased by 88.6% and 435.7%, respectively.

These loans were intended to support the government’s response to the coronavirus pandemic and economic recovery programs.