The Monetary Board has authorized the BSP to buy government securities worth PHP 300 billion to soften the impact of COVID-19 in the Philippines.
The Monetary Board on Monday has authorized the Bangko Sentral ng Pilipinas (BSP) to buy government securities worth PHP 300 billion from the Bureau of the Treasury.
This fund was part of the repurchase agreement between the BSP and the Bureau of the Treasury with a maximum repayment period of six (6) months, as such, this will be utilized to support the programs of the national government to counter the impact o COVID-19 or coronavirus disease.
In a statement, National Treasurer Rosalia de Leon said that their arrangement with the BSP was the “most cost-effective way” for them to allocate an extra lifeline to the national government to aid their programs in order to fight the COVID-19 pandemic.
On the part of the Bangko Sentral ng Pilipinas, Governor Benjamin Diokno said that the BSP would support the initiatives and objectives of the national government during the enhanced community quarantine, adding that the additional amount was intended to allocate support for those residents who were most affected by the enhanced community quarantine for the next 2-3 months.
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Sir pano naman po kmi maliit na negosyante mga payment isue nmin posdated chekes nag talbugan n po wala po n po tlga ako ipopondo dahil close business nmin .sobrang stress na po kmi .pano nio po kmi matutulungan .