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PIA Press Release
2006/10/26

BSP to prepay next month $215M debt due in 2007-2008

Quezon City (26 October) -- THE central bank will prepay next month another $215 million worth of loans maturing in 2007 and 2008, Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas said.

Asked how the central bank would raise the money for the payment, Tetangco said: "We have enough external liquidity and we are able to save on interest payments."

Earlier this month, the central bank also prepaid loans totaling $460 million. In April, it also paid $500 million worth of debt ahead of maturity.

The country's gross international reserves reached a new peak of $21.56 billion at the end of last month, up from $21.54 billion at the end of August. (PIA) [top]

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