Friday, 25 May 2012 r.

Manila moves to boost liquidity after strom wreckage

03.10.2009 9:41

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Tags: President, Saturday, Manila, Philippine, MANILA

MANILA (Reuters) - Philippine President Gloria Macapagal Arroyo ordered on Saturday a one-year deferment in repayment of loans provided by state pension funds, part of liquidity-boosting measures to protect the economy following massive typhoon devastation. Arroyo said at a disaster briefing that the one-year postponement of salary and housing loans can free up to 32 billion pesos ($679 million) in liquidity. She said she would ask the central bank to set up a five-year special rediscounting window to help...

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