Philippines’ Debt Rose To 252.39 Billion USD In Feb

Philippines’ Debt Rose To 252.39 Billion USD In Feb

MANILA, Mar 30 (NNN-PNA) – The Philippines’ debt rose to 13.75 trillion pesos (roughly 252.39 billion U.S. dollars), as of the end of Feb, a 0.4 percent increase from total outstanding debt recorded at the end of Jan, due to the net issuance of domestic securities, the Philippine Bureau of Treasury said, today.

Of the total debt stock, the bureau said, 31.3 percent was sourced externally, while 68.7 percent were domestic borrowings.

The bureau said, the country’s external debt amounted to 4.31 trillion pesos (roughly 79 billion U.S. dollars), or 0.1 percent lower than in Jan, due to the 21.15 billion pesos (roughly 388.4 million U.S. dollars) in net repayment of foreign loans, and 32.32 billion pesos (roughly 593.5 million U.S. dollars) on the impact of third-currency adjustments against the U.S. dollar.

“These outweighed the effect of local currency depreciation against the U.S. dollar, which amounted to 50.51 billion pesos (roughly 927.5 million U.S. dollars),” the bureau added.

According to the bureau, the country’s external debt has increased by 2.4 percent, compared to the end of Dec, 2022.– NNN-PNA  


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