Manila to borrow $3.9b

Sat, 10 Aug 1996, 00:00 WIB | Source: AFP

MANILA (AFP): The Philippines government is to borrow 103.3
billion pesos (US$3.9 billion) from the domestic and
international financial markets in 1997 to settle maturing
obligations, the Central Bank of the Philippines said yesterday.

The total would be 29 percent lower than the programmed
borrowings of 146.1 billion pesos ($5.58 billion) for 1996, a
central bank statement said.

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