It’s not even a conditional loan. The IMF has created a new round of SDRs, and the Philippine share is SDR 721.4 million (about US $1.1 billion).
Prior to the new SDR allocations, the Philippines had a cumulative allocation of SDR 116.6 million, but it had used up practically all these “old” SDRs, holding only SDR 6.7 million at end-July 2009. As of the same date, the Philippines had no outstanding debt with the IMF.
The Philippines’ accounts with the IMF and its SDR holdings are here.
Questions for BSP officials: Will they trade these new SDRs? Why or why not?