Review and lecture notes on the subject Politics and Governance under Charo Esquivias Dugan-Listana, MMPM.
Friday, July 30, 2010
THE BORROWING POWER
The President may contract or guarantee foreign loans on behalf of the Republic of the Philippines with the prior concurrence of teh Monetary Board, and subject to such limitations as may be provided by law. The Monetary Board shall submit to Congress a report on loans within 30 days from the end of every quarter. (Suarez, 2005)