"The bill aims to secure the active involvement of Congress in any governmental decision, in collaboration with the Executive Branch, regarding any increase in our foreign borrowings and in all matters relating to our country's debt policy and management strategies. It proposes the creation of a Joint Legislative-Exe cutive Debt Coordinating Council (LEDCC) composed of the Secretary of Finance, the Secretary of Budget and Management, the National Economic Development Authority Director General,the National Treasurer, three Senators and four members of the House of Representatives . The LEDCC shall assis the national government in instituting reforms and directions in the country's foreign debt policy."