Monetary policy Pinoy style: $2 trillion bonds in open market scam

Using German and Argentinian bonds to solve Philippine debt problems.
February 21, 2001

Some Filipinos working out of the southern Philippine city of Cagayan de Oro have found an almost perfect way to bail the country out of its $45 billion foreign debt and Ps145 billion ($3.08 billion) government budget deficit: German and Argentinian bonds.

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