The Bangko Sentral ng Pilipinas (BSP) has ordered resident entities from the public and private sectors to submit their plans for contracting medium- and long-term foreign loans in the fourth quarter and the entire year 2027 by Sept. 30, BusinessWorld reported.
The requirement covers all foreign loan applications, including those for project financing, general corporate purposes, and refinancing. The BSP emphasized that timely submission is crucial for the central bank to assess the country's external debt profile and ensure compliance with monetary and foreign exchange regulations.
Entities that fail to meet the deadline may face delays in processing their loan applications. The BSP advised borrowers to coordinate with their authorized agent banks and submit complete documentary requirements on time.