[ 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; |
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| (2) | Alternative sources of low cost funds, and whether or not the Government should avail of these sources instead of the World Bank; |
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| (3) | The effect on the government's capability to service foreign obligation |
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
President of the Philippines