Residency of Creditor: Foreign Loan vs Foreign Currency Denominated Loan

  • Foreign Loan is an obligation borrowed from a non-resident creditor regardless of currency denomination.
  • Foreign Cuurency Denominated Loan is an obligation borrowed from a resident creditor regardless of currency denomination.
  • Residency of Creditor 
  • RA 4860 - Foreign Borrowings Act (1966)
http://www.bsp.gov.ph/downloads/Publications/FAQs/forex.pdf

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