Central Banking

Manila central bank to tap syndicated loan market

The Philippine central bank said on Jan 24 it may tap the syndicated loan market to pay off $400 million worth of debts maturing next month. Central bank governor Rafael Buenaventura said the government has received positive feedback for the planned syndicated loan as a result of the peaceful transfer of power to President Gloria Macapagal Arroyo.

"Now it will be syndicated and we would bid it out. We plan to do it sooner rather than later although we have yet to make up our minds," Buenaventu