P.M. BRIEFING : Manila Presses Overseas Banks
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MANILA — The Philippine finance secretary today warned overseas banks refusing to lend more money to the heavily indebted country that their actions could affect future business deals with Manila.
“The Philippines cannot be taken for granted and those who are going to support us will be treated very favorably,” said Finance Secretary Jesus Estanislao.
But for those who were not supportive, “their long-term business relationship with the Philippines would be taken in the light of their behavior,” he added, without specifying what action the government might take.
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