[Answer/discuss the question below. Or see Political Law Instructions; Political Law Essay Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 and 12; Political Law Multiple Choice Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19 and 20. See also 2013 Bar Exam: Information, Discussions, Tips, Questions and Results]
XVIII. Which of the following statements is correct? (1%)
(A) The President, with the concurrence of the Monetary Board, can guarantee a foreing loan on behalf of the Republic of the Philippines.
(B) Congress may, by law, provide limitations on the President’s power to contract or guarantee foreign loans on behalf of the Republic of the Philippines.
(C) In order to be valid and effective, treaties and executive agreements must be concurred in by at least two-thirds of all the Members of the Senate.
(D) The President shall, at the end of every quarter of the calendar year, submit to Congress a complete report of the loans contracted or guaranteed by the Government or government-owned and controlled corporations.
(E) All the above choices are defective in some respects.