PH does not intend to seek new foreign loans amid Middle East crisis — Palace

The government has no plans to seek loans from international lenders to fund its response to the ongoing crisis in the Middle East, Malacañang said on Thursday.

In a press briefing, Claire Castro, undersecretary of the Presidential Communications Office, said the government currently has sufficient resources to implement measures for Filipinos affected by the conflict and the recent spike in fuel prices.

“Sa ngayon po ay wala pong napabanggit patungkol po diyan (At present, nothing has been mentioned about that),” Castro said on March 12.

She added that the matter had been clarified with Frederick Go, Secretary of the Department of Finance, who confirmed that the government has not considered borrowing from foreign institutions as a crisis response.

“Yes, po. Sa ngayon po ay hindi pa po napag-iisipan kung uutang po (Yes. As of now, borrowing has not been considered),” Castro said.

The Palace said the government continues to monitor developments in the Middle East while implementing measures to safeguard overseas Filipino workers in the region.

-Paraluman News