Philippines to help ailing nations with $1-billion loan to IMF

[cobraKing]

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Manila, Philippines -- The Philippines will again assist economically struggling nations by contributing a $1-billion loan to the International Monetary Fund (IMF).

The money will come from the Bangko Sentral ng Pilipinas (BSP)' international dollar reserves that increased due to the high remittance from overseas Filipino Workers, according to Department of Finance Undersecretary for International Financing Rosalia De Leon.

In 2011, the Philippines also lent over $125 million to ailing economies in Europe through the IMF.

For almost 45 years, the Philippines was a chronic IMF borrower. But it was able to transform itself as a lender after the country prepaid all of the government's outstandings debts with the IMF.

Starting in 2010, when the counrry's foreign reserves started to expand, the Philippines joined other nations that lent to borrowing IMF member-countries.

“We have been a recipient of IMF assistance for the past 40 years. Now that we have been considered a creditor nation, we feel it’s our obligation to assist those nations who require funding from the IMF,” presidential spokesman Edwin Lacierda said in a press briefing in Malacanang on Thursday.
"This will also help in stabilizing the crisis that is going on in Europe,” he added.

Reporters asked Lacierda how the government can guarantee the people that the $1 billion loan to the IMF wouldn’t be mismanaged.
“As to whether it is risky or not, we believe that the IMF will act judiciously on the funds. There is now a standby fund for around $456 billion, and we have contributed $1 billion to that fund,” Lacierda said.

According to the BSP, the Philippines "will get our money back with interest."

"In effect, by extending a loan to the IMF that will earn money for the Philippines we are also able to help other nations saddled with financial problems,” the bank said. - with reports from Romsanne R. Ortiguero


Philippines to help ailing nations with $1-billion loan to IMF - InterAksyon.com

[SsprinterT]

wow...ka good news na gud ani....eaning wala na jud tay utang sa IMF? thats great.....pero sa World Bank kay kumusta kaha ang atong utang....

[Crinkles11]

Yes! Datu na ta....

[higanstolsdawen]

murag dili man katuhoan nga ang pilipinas na magpautang kaysa maoy mangutang. usa man unta ta sa mga nasod nga palautang aneng imf. dia ra ang kamatuoran oh nga ang mga remittance sa ofw dako kaayo tabang sa atong ekonomiya. unya ang hinampak nga tongresswoman nagpanday ug balaod to add additional burden sa ofw.

[marcopolo]

Gamiton unta nang sobra nga kwarta para improve sa atong nasud. Unya na nang magpa utang kung wla na nag lisud atong nasud.

[shogunfreak]

pa POGI SI ABNOY bisan way angay...!!!

tan awa sa ang skwatter sa Manilo NOY......perteng dghanang SKWATTING TAGALOG....hahaha

[aztina888]

pa POGI SI ABNOY bisan way angay...!!!

tan awa sa ang skwatter sa Manilo NOY......perteng dghanang SKWATTING TAGALOG....hahaha

saun, kung walay makita nga g.buhat mu ingun lng nga nag tug ug walay au, karung naa nay agi mu ingun lang ug nag pa pogi bwahahaha HATERS WILL NEVER STOP HATIN.. TROLOLO

bisan cguro si superman mu ingun lang atay ba aning Pinoy oie bisan unsa akong buhatun cge mn lang gyapon ug HATE bwahahaha

[shogunfreak]

saun, kung walay makita nga g.buhat mu ingun lng nga nag tug ug walay au, karung naa nay agi mu ingun lang ug nag pa pogi bwahahaha HATERS WILL NEVER STOP HATIN.. TROLOLO

bisan cguro si superman mu ingun lang atay ba aning Pinoy oie bisan unsa akong buhatun cge mn lang gyapon ug HATE bwahahaha

out of contrast imu argument trololo....jigolo ka bro?

magpahulam na nuon C PINOY ug kwarta nga ang Pinas nag hingaos pa man gani sa kalisod? pagsure wui....

Its not the HATE...he is just like u PRO ABNOY man gud ka bro..pilay gibatyad sa imuha?pastilan jud ning mga PRO ABNOY..PRO ABNOY=ABNOY too... bwahahaha..... tawa ko dakoooo... nyahahaha....

Question lng bro...unsay nahimo sa imung AMO sa PINAS? TROLOLOLO..daghan namung troll doh!!

[shogunfreak]

saun, kung walay makita nga g.buhat mu ingun lng nga nag tug ug walay au, karung naa nay agi mu ingun lang ug nag pa pogi bwahahaha HATERS WILL NEVER STOP HATIN.. TROLOLO

bisan cguro si superman mu ingun lang atay ba aning Pinoy oie bisan unsa akong buhatun cge mn lang gyapon ug HATE bwahahaha

@aztina :

mao nay gibuhat imu giingun? Tabla raman na sa anecdote:

Inday (nag lantaw TV ug dihang naabtan sa iyahang amo..)

Madame: Inday nganu gud tawn ka nag yaka man lang ka dha nga WAY gibuhat.

Inday : Nag lantaw baya ko TV madame. kani diay? para di ko nmu maabtan nga WAY GIBUHAT.. bwahahahaha..

Pagka toytoy jud nmu trolololo!!! nyahahaha

[FAQ]

Ah mao diay ni gi adto ni Noynoy sa Europe ?