DOF dispels ‘misapprehensions’ over $62-M China loan 0 SHARES Share it! Share TweetBy Chino S. LeycoThe Department of Finance (DOF) dispelled the “misapprehensions” over a possible Chinese takeover of the Philippines’ patrimonial assets. Agabin, however, said the waiver-of-immunity and arbitration clauses are standard in any loan agreements forged between states. “The waiver-of-immunity clause is usually included as a standard provision in loan agreements to enable the lender to bring the borrower before an arbitral court in case of a default on the loan,” Agabin said. In terms of the debt-to-GDP ratio, Sri Lanka’s is almost 80 percent, while the Philippines’ ratio is around 40 percent.

Source: Manila Bulletin April 16, 2019 13:52 UTC