The Bangko Sentral ng Pilipinas (BSP) approved the additional ₱540 billion loan by the national government.
According to BSP Governor Benjamin Diokno on Thursday (July 16), the loan was approved by their monetary board last week. It will be used as an additional budget for the government as it faces a fiscal deficit due to the COVID-19 pandemic.
The BSP initially approved two ₱540 billion loans from the government in October and December last year. One of these loans was already paid by the government.
In March 2020, the central bank permitted ₱300 billion worth of security loan by the government. (PTV News)/NGS-rir
