Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

Philippines Need Not Borrow Money – For Now

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The Banko Sentral ng Pilipinas (or Central Bank of the Philippins) told various news media that the country does not have to resort to borrowing more money because of its “healthy position” regarding its balance of payments (BOP). This is strengthened by the robust influx of currency remittances to the country. Last year, the country hit a little less than $90 million in BOP surplus; the first four months of 2009 has also posted a moderate surplus.

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Written by Raffy Pekson II

May 26, 2009 at 6:49 pm

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