Friday, April 4, 2025

Philippines’ debt rose to $252 bn in Feb

Date:

Share post:

Manila, March 30 : The Philippines’ debt rose to 13.75 trillion pesos ($252 billion) as of the end of February, a 0.4 per cent increase from total outstanding debt recorded at the end of January, due to the net issuance of domestic securities, the Bureau of Treasury said on Thursday.

Of the total debt stock, the Bureau said 31.3 per cent was sourced externally, while 68.7 per cent were domestic borrowings, reports Xinhua news agency.

It said the country’s external debt amounted to 4.31 trillion pesos, or 0.1 per cent lower than in January due to the 21.15 billion pesos in net repayment of foreign loans and 32.32 billion pesos on the impact of third-currency adjustments against the US dollar.

“These outweighed the effect of local currency depreciation against the US dollar, which amounted to 50.51 billion pesos,” the Bureau added.

According to the Bureau, the Southeast Asian country’s external debt has increased by 2.4 per cent compared to the end of December 2022.(IANS)

Related articles

Historic Waqf Bill ends corruption, grants entitlements to marginalised Muslims, says MRM

New Delhi, April 4: A wave of optimism and joy swept across the nation as the Waqf Amendment...

Top Lankan ministers, Indian diaspora accord grand welcome to PM Modi in Colombo amid heavy rain

Colombo, April 4: Hundreds of locals and members of the Indian diaspora community braved heavy rain to give...

IB woman officer suicide: Trouble mounts for absconding colleague as rape charges included

Thiruvananthapuram, April 4: The Kerala Police, on the lookout for the absconding male colleague of a woman IB...

Manipur: First tripartite talks between Meitei, Kuki-Zo, MHA in Delhi tomorrow

Imphal, April 4: In a significant development, leading organisations of Meitei and Kuki-Zo-Hmar communities will hold a tripartite...