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| Rafael Buenaventura |
THE STICKY MORNING chaos on Manila’s Roxas Boulevard seems a thousand miles away from the cool equanimity that pervades the top floor of Bangko Sentral Ng Pilipinas, which sits imposingly on the busy thoroughfare. The central bank’s governor, Rafael Buenaventura, Pa Eng to his friends – a nickname is de rigueur in the Philippines – is busy putting the finishing touches to a press release explaining in the simplest terms the difference between debt refinancing and debt restructuring.
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