Practice question
The President signs a proposed Republic foreign-loan agreement before obtaining Monetary Board concurrence. An adviser says a request for concurrence one week later satisfies the Constitution's prior-concurrence wording. Does that sequence comply with the stated timing requirement?
- Yes, because prior means any time after signing.
- Yes, if the lender prefers the sequence.
- Yes, because the Board is mentioned only as an optional consultant.
- No, because concurrence obtained only afterward does not meet the specified prior-concurrence requirement.
- No, because the President can never contract any foreign loan.
Legal references
- 1987 Constitution, Article VII, Section 20: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/3/353
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