The Philippines can borrow up to $22 billion from the Chiang Mai Initiative Multilateralization (CMIM), according to the Department of Finance (DoF).
“As a signatory to the CMIM, the Philippines may be able to borrow up to $22.76 billion from the facility to help avert an impending or actual BoP (balance of payments) crisis,” the Finance department said in a statement released on Tuesday.
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