Why BOP is Donating 100 GOLD to Canada

Day 601, 23:56 • Published in Philippines Philippines • by Swagger McSwag


Earlier, I received a somewhat worried private message asking why the Bank of Philippines, our country's currency regulating organization, donated 100 GOLD directly to Revenue Canada, an "Official Canadian Organization", yesterday.

Some of you might also be curious as to why this is. So why did we donate a hundred GOLD to Canada?

The answer is: it's their money. We owe it to them.

About 24 days ago, then-President Big Boy Bulley successfully negotiated the terms of sale of a Q4 hospital between the Philippine government and the Canadian government. According to the contract of sale, the Canadian government would put up a Q4 hospital on the Philippine market at a value in PHP equivalent at that time to 130 GOLD. Naturally, that was paid the day we acquired the hospital and set it up in the Visayas region.

Furthermore, the contract also stipulated that 100 GOLD would be paid to Canada by the Philippine government with 33 of the contract-signing. That remaining 100 GOLD balance is what we paid in full yesterday. The Philippines is now debt-free.

You may read the full text of the original contract here: http://www.erepublik.com/en/forum/topic/103404/canada-philippines-hospital-purchase-contract/1

For you information.

Yours,

Ariel
VP
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July 14, 2009

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WILLIAM WALLACE: FREEEDDOOOOMMM!!!