The Philippines has maintained its solid fiscal position by guaranteeing that the government can always afford to pay its foreign borrowings, according to Finance Secretary Carlos Dominguez 3rd.
Dominguez was quoted as saying in a statement released by the Department of Finance on Wednesday that foreign borrowings have proven to be an efficient tool for driving economic growth and ensuring rapid finance for emergencies, such as the present coronavirus disease 2019 (Covid-19) problem.
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