Philippine c.bank to tap its forex reserves

The Philippine Central Bank said it will tap its foreign-exchange reserves to pay maturing obligations in the first half of 2001. At the same time, the central bank said it will postpone indefinitely a plan to borrow funds from a group of local and foreign banks. Central Bank Gov. Rafael Buenaventura said the bank must pay maturing obligations of $400 million in February 2001 and $425 million in April 2001.

Disappointing conditions in the international-debt market have prevented the central bank

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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