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World Bank sees more countries in 'deep debt distress' this year

Reuters
Updated as of Jan 06 10:57 AM

Chad and several other countries are already in deep debt distress and more will join their ranks this year, given the severity of the global recession triggered by the COVID-19 pandemic, World Bank Group President David Malpass said. Read more »

Landbank hits 94.5 pct of lending target to farmers, fishers as of Nov: DOF

ABS-CBN News
Posted at Jan 04 05:02 PM

The Land Bank of the Philippines has achieved 94.5 percent of its P245-billion lending target as of November last year, the Department of Finance said Monday. Read more »

BSP keeps key rates steady for second straight session

ABS-CBN News
Updated as of Oct 01 04:38 PM

The Bangko Sentral ng Pilipinas on Thursday kept the key interest rate at a record-low 2.25 percent as the economy continues to gradually reopen following the lockdowns to curb the spread of the virus.   Read more »

UK govt debt exceeds £2 trillion for first time

Agence France-Presse
Posted at Aug 21 05:45 PM

British government debt has exceeded £2.0 trillion for the first time following massive state borrowing as the coronavirus pandemic pushed the UK economy deep into recession, official data showed Friday. Read more »

Philippines 'in a better position' to weather COVID-19 pandemic

Jessica Fenol, ABS-CBN News
Updated as of Jul 27 06:42 PM

President Rodrigo Duterte said Monday the Philippines is in a "better position" to weather the coronavirus pandemic on the back of strong fiscal position and robust banking system, among others. Read more »

Drilon to scrutinize government's COVID-19 loans during budget deliberations

Katrina Domingo, ABS-CBN News
Posted at Jul 15 06:27 PM

Senate Minority Leader Franklin Drilon on Wednesday said that he would scrutinize the billions-worth of loans the government obtained from foreign sources for the coronavirus disease 2019 (COVID-19) crisis to see if the "funds were properly spent." Read more »

Philippines has enough funds to fight COVID-19: Budget chief

Jessica Fenol, ABS-CBN News
Posted at Jul 08 01:56 PM

The Philippines has enough funds in its war chest to respond, fight and mitigate the impact of the coronavirus pandemic, Budget Secretary Wendel Avisado said Wednesday. Read more »

Bangko Sentral gets 'ahead of the game' with surprise rate cut: economist

ABS-CBN News
Posted at Jun 26 09:39 AM

The Bangko Sentral ng Pilipinas' surprise key interest rate cut would ensure that the environment is conducive enough for growth as more lockdown restrictions ease, an economist said Friday. Read more »

Bangko Sentral: Policy moves aim to build credit lines for consumers

ABS-CBN News
Posted at Jun 08 11:11 AM

The Bangko Sentral ng Pilipinas on Monday said it has reduced key interest rates and the reserve requirement ratio for banks to aid firms during the time of the coronavirus pandemic.  Read more »

World Bank approves $500-million loan to boost PH's pandemic response

ABS-CBN News
Posted at May 29 06:28 PM

The P22-billion fund will help the vulnerable households and will provide financial assistance to small and medium enterprises, the World Bank said in a statement. Read more »

Convenient ways to borrow money in the Philippines

Moneymax.ph
Posted at May 13 04:22 PM

Need some cash to make ends meet? You should know that you now have more options than just asking for money from family and friends. Take time to consider these loan options to fund your specific needs.  Read more »

'A lot of financing' needed for pandemic recovery: NEDA

ABS-CBN News
Updated as of May 05 11:27 AM

The Philippines needs "a lot of financing" to fund its coronavirus recovery plan, Acting Socioeconomic Planning Secretary Karl Kendrick Chua said Tuesday. Read more »

What you need to know about credit card balance transfers

Moneymax.ph
Posted at Sep 27 03:37 PM

Want to lower your credit card debt? Try getting a credit card balance transfer. In a nutshell, a credit card balance transfer involves transferring your outstanding balance to a new credit card for a lower interest rate. You can either get a new card from the same bank or a different one. Read more »

Diokno: Interest rate, RRR cuts may come 'sooner than later'

ABS-CBN News
Posted at Sep 13 12:08 PM

The MB last cut the overnight borrowing rate used by banks to price loans by 25 basis points last Aug. 8, after first half growth slowed to a 4-year low. The policy body has 3 more meetings left this year, on Sept. 26, Nov. 14 and Dec. 12. Read more »

Credit rating upgrade 'a vote of confidence' on Philippines: economist

Cathy Yang, ABS-CBN News
Updated as of May 01 05:14 PM

The upgrade was “well-deserved” after the Bangko Sentral ng Pilipinas raised the benchmark borrowing rate by 175 basis points in 2018 to tame inflation, he said. Inflation slowed for the fifth straight month in March. Read more »

S&P raises Philippines' credit rating, citing strong economy

ABS-CBN News
Posted at Apr 30 06:22 PM

The Philippines' score was raised to BBB+ from BBB A, the third lowest investment grade rating or 3 notches above the minimum investment grade score, S&P said.  Read more »

How to Say No to People Who Want to Borrow Money

MoneyMax.ph
Posted at Dec 12 04:59 PM

Tired of people asking you for a loan for the nth time? Wondering how you can properly refuse family and friends who want to borrow money again? Read more »

House leader defends Arroyo after finance chief's remarks

RG Cruz, ABS-CBN News
Posted at Dec 07 06:47 PM

House Majority Leader Rolando Andaya Jr. on Friday rebutted Finance Secretary Carlos Dominguez who alluded to the administration of former President Gloria Macapagal-Arroyo’s alleged mishandling of financing from China. Read more »

Dominguez allays fears over 'Chinese debt trap'

ABS-CBN News
Posted at Dec 06 06:51 PM

Finance Secretary Carlos Dominguez said the Duterte administration will not fall into a "debt trap" with China because it has "learned much from a previous administration’s scandalous mismanagement of Chinese financing." Read more »

BPI prices inaugural peso bonds, worth P25 billion

ABS-CBN News
Updated as of Nov 20 10:23 AM

BPI said the issue size was increased to P25 from the initial guidance of P5 billion and the consolidated order book reached P38 billion. Read more »