Recto Bank as collateral for China loan? Nothing wrong – Panelo
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There is nothing wrong if the government used gas-rich Recto Bank as collateral for a $62-million loan agreement with China, Malacaang said on Monday. «For me [China seizing Reed Bank should there be a default in the repayment of the loan] is ... noRecto Bank as collateral for China loan? Nothing wrong – Panelo
There is nothing wrong if the government used gas-rich Recto Bank as collateral for a $62-million loan agreement with China, Malacaang said on Monday. «For me [China seizing Reed Bank should there be a default in the repayment of the loan] is ... not a possibility because we never reneged,» presidential spokesperson Salvador Panelo told reporters, using the international name of Recto Bank. «We are known for paying our obligations,» Panelo added. Carpio warning Panelo was commenting on the warning of Supreme Court Senior Associate Justice Antonio Carpio during a presentation at Pamantasan ng Lungsod ng Maynila on Friday that China could seize Recto Bank if the Philippines fai...Keep on reading: Recto Bank as collateral for China loan? Nothing wrong – Panelo Read more