S&P: PH to slow down borrowing this year

The government could wind down its commercial borrowings in 2021 on the diminishing impact of the coronavirus pandemic on its finances, S&P Global Ratings said on Tuesday.

In its latest report, the New York-based credit rating agency estimated that the government’s gross commercial long-term borrowing this year could ease to $32.3 billion or about P1.56 trillion this year.