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Philippines' debt declines to 251.2 bln USD in end-September

MANILA
2023-10-31 15:12

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MANILA, Oct. 31 (Xinhua) -- The Philippines' debt declined to 14.27 trillion pesos (roughly 251.2 billion U.S. dollars) as of end-September, a 0.6 percent decrease from the total outstanding debt recorded in end-August, the Bureau of the Treasury said Tuesday.

The bureau attributed the decline from the previous month's level to the net repayments of both domestic and external obligations for the month.

Of the total debt stock, the bureau said 31.8 percent was sourced externally, while 68.2 percent were domestic borrowings.

The bureau said the Southeast Asian country's external debt amounted to 4.53 trillion pesos in September, 0.5 percent lower than in August, mainly due to favorable third currency fluctuations and net repayment of foreign loans.

"Peso depreciation against the U.S. dollar added 700 million pesos," the bureau said. (1 peso equals 0.0176 U.S. dollar)
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