Bangko Sentral Seeks Listing Of Foreign Borrowings
The Bangko Sentral ng Pilipinas (BSP) has asked companies and residents to list with the monetary agency for their foreign borrowing needs as part of its external debt management initiative.
Photo Insert: Bangko Sentral ng Pilipinas
BSP said the registry, which will be deemed confidential, is aimed at getting the required borrowings of government and private entities.
Under Section 22.7 of the Manual of Regulations on Foreign Exchange Transactions, as amended, all public and private resident entities, intending to: (a) obtain medium- and long-term foreign loans from non-residents, including offshore issuances of debt instruments; and (b) issue onshore debt instruments that require settlement in foreign currency, are required to submit their foreign borrowings plan for 2022 not later than 30 September 2021, to the BSP, through the International Operations Department as follows: (a) for public sector loans/borrowings: IOD-IOG1@bsp.gov.ph; or (b) for private sector loans/borrowings: firstname.lastname@example.org and email@example.com.
The standard reporting form [Annex D.3 (Medium and Long-term Foreign Borrowings Plan) of the Manual of Regulations on Foreign Exchange Transactions, as amended] may be downloaded from the BSP website at https://www.bsp.gov.ph/Lists/Download%20Section/Attachments/51/Annex%20D.3%20(Cir984_2017).docx.
All reported data are covered by strict confidentiality rules and shall be used for the BSP's internal purposes only pursuant to Section 23 of R.A. No. 7653. The BSP, therefore, enjoins the cooperation of all concerned.