LETTER OF INSTRUCTION NO. 430, July 17, 1976

[ LETTER OF INSTRUCTION NO. 430, July 17, 1976 ]

TO: The Montary Board NEDA Budget Commission Department of Finance

In view of the recent increase of lending rates by the World Bank, I hereby direct a study of the following:

(1) Effects on the current cost of money;

(2) Alternative sources of low cost funds, and whether or not the Government should avail of these sources instead of the World Bank;

(3) The effect on the government's capability to service foreign obligation

(Sgd.) FERDINAND E. MARCOS President of the Philippines