{"id":270330,"date":"2020-09-30T01:40:06","date_gmt":"2020-09-30T05:40:06","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=270330"},"modified":"2020-09-30T01:40:06","modified_gmt":"2020-09-30T05:40:06","slug":"govt-ready-to-repay-p300-b-repurchase-deal-with-bsp","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/09\/30\/govt-ready-to-repay-p300-b-repurchase-deal-with-bsp\/","title":{"rendered":"Gov\u2019t ready to repay P300-B repurchase deal with BSP"},"content":{"rendered":"<figure id=\"attachment_267036\" aria-describedby=\"caption-attachment-267036\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/08\/coronavirus-4944680_1280.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-267036\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/08\/coronavirus-4944680_1280.jpg\" alt=\"\" width=\"1280\" height=\"711\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/08\/coronavirus-4944680_1280.jpg 1280w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/08\/coronavirus-4944680_1280-300x167.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/08\/coronavirus-4944680_1280-768x427.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/08\/coronavirus-4944680_1280-1024x569.jpg 1024w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-267036\" class=\"wp-caption-text\">The national government is prepared to repay the PHP300 billion that the Bangko Sentral ng Pilipinas (BSP) extended through a repurchase agreement to help fund the coronavirus disease 2019 (Covid-19) response program. (Pixabay photo)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 The national government is prepared to repay the PHP300 billion that the Bangko Sentral ng Pilipinas (BSP) extended through a repurchase agreement to help fund the coronavirus disease 2019 (Covid-19) response program.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Asked by a journalist if the government is ready to pay the funding agreement by Sept. 30, Finance Secretary Carlos Dominguez III said yes.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Last March, BSP\u2019s policy-making Monetary Board (MB) authorized the central bank to purchase government securities from the Bureau of the Treasury (BTr) to support the national government\u2019s programs in addressing the impact of the pandemic.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Under the deal, BTr has a maximum of six months to repay the debt securities.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The BSP Charter allows for this deal, provided that the tenor of the securities is three months and can be renewed for another three months.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Also, the number of securities that will be purchased should not exceed the government\u2019s average revenues in the last three years.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cFor prudential reasons, we interpret this to mean that it should be used only during extraordinary times &#8212; and these are obviously extraordinary times,\u201d BSP Governor Benjamin Diokno earlier said.<em><strong>\u00a0<\/strong><\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 The national government is prepared to repay the PHP300 billion that the Bangko Sentral ng Pilipinas (BSP) extended through &hellip;<\/p>\n","protected":false},"author":44,"featured_media":267036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-270330","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/270330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=270330"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/270330\/revisions"}],"predecessor-version":[{"id":270331,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/270330\/revisions\/270331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/267036"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=270330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=270330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=270330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}