Foreign debt hits $109.8b on higher infra borrowings

Data showed that on a year-on-year basis, the country’s debt stock went up by $12.7 billion, driven by net availments of $16.4 billion, largely by the government ($12 billion) and prior periods’ adjustments of $3.2 billion. Read more👇

billion in the fourth quarter of 2021 as the government borrowed more to fund infrastructure projects and COVID-19 response efforts, the Bangko Sentral ng Pilipinas said over the weekend.

Bangko Sentral Governor Benjamin Diokno said in a statement the rise in the debt level in the first quarter from the fourth quarter was due to net availments of $3.5 billion, mainly by the national government and private non-banks. The BSP said the prior periods’ adjustments of $1.7 billion also contributed to the increase in the debt stock, while the transfer of Philippine debt papers issued offshore from non-residents to residents of $1 billion and negative foreign exchange revaluation of $841 million tempered the rise in the debt stock.

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MlaStandard /  🏆 20. in PH

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