A $11 million loan 'to help the Philippines plug the leaks in its tax collection system', has been approved by World Bank. The bank says that financial reforms have allowed the Philippines to reduce debt and inflation. The peso has risen to a six-year high against the U.S. dollar.
Original source: Forbes. [404 Check: was link to http:/ / www. forbes. com/ feeds/ ap/ 2007/ 03/ 15/ ap3518048. html, anchor: Philippines Gets $11M From World Bank]
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