BSP fully awards 28-day bills

The Philippine central bank raised P100 billion from its auction of short-term securities on Friday even as rates rose on hints by the US central bank of a looming interest rate increase in 2023. The Bangko Sentral ng Pilipinas (BSP) fully awarded the 28-day bills from total bids worth P140.525 billion. The auction was 1.4 […]

Q1 external debt declines

The country’s outstanding foreign debt fell by 1.5% or $1.4 billion to $97 billion at the end of March from end-December, after the National Government redeemed maturing bonds and local banks settled their obligations, according to the Philippine central bank. Year-on-year, the country’s debt stock rose by $15.6 billion after borrowings worth $13.5 billion by […]

BSP dollar reserves dip in May

The central bank’s dollar reserves dipped in May, as the government withdrew foreign currency to use for debt repayments.   Data from the Bangko Sentral ng Pilipinas (BSP) showed the gross international reserves (GIR) declined by 0.67% to $106.978 billion as of end-May, from the $107.705 billion logged as of end-April.   However, this was 14.7% higher than the $93.288 […]

Labella seeks additional P4.4 billion budget

THE Cebu City Council has started deliberations on Mayor Edgardo Labella’s proposed P4.4 billion first supplemental budget (SB1) for 2021. Councilor Raymond Alvin Garcia, budget and finance committee chairman, said the deliberations began on Thursday, June 3, 2021. The proposed budget will be presented to the City Council on June 9, Wednesday after changes suggested […]

LANDBANK OK’s P20 billion in loans for firms affected by crisis

LAND BANK of the Philippines (LANDBANK) has approved P20.07 billion in loans for firms, micro, small and medium enterprises (MSMEs) and cooperatives affected by the coronavirus disease (COVID-19) pandemic as of April. The bank said in a statement that loans released through its I-RESCUE (Interim Rehabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) lending […]