Philippines Seeks New $11 Billion Debt From Central Bank

The Philippine government is seeking a new 540 billion-peso ($11.2 billion) loan from the central bank to aid in pandemic relief measures, Treasurer Rosalia de Leon said.

The request for a new loan was transmitted to the central bank after the government repaid its previous debt of the same amount due Tuesday, de Leon said in a mobile-phone message.

This is the third time that the government has requested support from the Bangko Sentral ng Pilipinas. The monetary authority extended advances of 300 billion pesos in March and 540 billion pesos in October.

©2020 Bloomberg L.P.

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