PH prepares stimulus package against global recession

The Philippines is preparing a stimulus package to shield its economy from the global recession caused by the COVID-19 pandemic.

Finance Secretary Carlos Dominguez III stated that the first draft of additional fiscal and monetary measures will be completed by the end of the week.

Dominguez also mentioned that the country is awaiting details on the terms and conditions of the International Monetary Fund's $1 trillion loan facility for countries affected by COVID-19.

The Bangko Sentral ng Pilipinas Governor Benjamin Diokno said monetary officials will discuss additional measures during the Monetary Board meeting on Thursday.