Diokno calls for financing model reforms

Oct 12, 2023 12:20 am

'Now, as rising interest rates and increasing costs of international borrowing are likely to further restrict government budgets and curtail priority investments, MDBs must make available better financing terms,' Diokno said on Tuesday during the Group of Twenty-Four (G24) Ministerial Meeting.

'The rapid increase in the level of the Secured Overnight Financing Rate poses significant risk burdens to International Bank for Reconstruction and Development countries such as the Philippines,' he added.

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