Bangko Sentral plans $500-M borrowing

The Bangko Sentral ng Pilipinas (BSP) borrowed $500-million short-term loan in March to prop up dollar reserves, according to the latest data.

BSP’s gross international reserves (GIR) still lost $510 million to $38.87 billion in March from February’s
$38.92 billion. The government and the BSP use GIR to pay off debts which as of March reached $3.4 billion.

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