Amendment to Foreign Borrowings Act

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Title Supreme Court: Amendment to Foreign Borrowings Act

Law: Presidential Decree No. 1939

Decision Date: Jun 27, 1984

Presidential Decree No. 1939 amends the Foreign Borrowings Act to allow for the exclusion of specific categories of external debt from the existing ceiling on foreign borrowings and grants the President the authority to adjust the total amount of external debt, while also allowing for the government to guarantee the external indebtedness of corporations owned or controlled by the Government of the Republic of the Philippines.

amending

foreign borrowings act

external debt

END