MANILA: The Philippines is moving to tackle widening fallout from the Covid-19 (coronavirus) outbreak, with the central bank approving the purchase of government securities to help boost state funding and legislators debating President Rodrigo Duterte’s request for extra powers.
Bangko Sentral ng Pilipinas will buy 300 billion pesos (US$5.8 billion) worth of debt from the Bureau of the Treasury under a three-month repurchase agreement, renewable for another three months, Governor Benjamin Diokno said Monday (March 23).