Manila to borrow $1.2 billion more in local debt in 2009

Posted by 7Star Saturday, March 28, 2009

The Philippines plans to borrow 55.5 billion pesos ($1.2 billion) more from the local debt market this year than announced earlier to bridge a wider fiscal gap, National Treasurer Roberto Tan said on Thursday. "That takes into consideration the updated deficit (target)," Tan told Reuters.

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