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By William B. Depasupil Reporter
THE government must have the
approval of the Monetary Board, the policy-making board of the
Bangko Sentral ng Pilipinas (BSP), and the National Economic and
Development Authority (NEDA) in securing foreign loan to fund the
multibillion-peso SouthRail Project.
Solicitor General and Acting
Justice Secretary Agnes Devanadera issued the legal opinion in
response to a query by Finance Secretary Margarito Teves, who has
been tasked to sign in behalf of the President an executive
agreement with the Export-Import Bank of China to obtain funding for
Phase 1-A of the project.
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