2 weeks DOF urged to explain P1.8-trillion loans Inquirer
MANILA, Philippines --- The Department of Finance (DOF) should explain in detail the P1.86-trillion in loans the government borrowed from January to July this year, a lawmaker urged Thursday. House committee on public accounts chairperson Mike Defensor said the DOF "should account for the debt for the first seven months... for the sake of transparency." "People are asking questions about the borrowings, particularly where the money was used and why did we have to borrow at the time each loan was incurred," he said in a statement. While the public recognizes the need to borrow from foreign and domestic lenders, ... more