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The Philippines' external debt remains at prudent levels despite a slight uptick in the first quarter of the year, due mainly to additional borrowings by the government to fund the Duterte administration's infrastructure buildup program, the central bank saidBSP: Foreign debt rising but still at ‘prudent’ levels
The Philippines' external debt remains at prudent levels despite a slight uptick in the first quarter of the year, due mainly to additional borrowings by the government to fund the Duterte administration's infrastructure buildup program, the central bank said. In a statement, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the country's outstanding external debt stood at $80.4 billion as of end-March 2019, up by $1.5 billion---or 1.9 percent---from $79 billion at the end of last year. "The growth in the debt level during the first quarter was due mainly to net availments of $1.8 billion as the national government raised $1.5 billion from the issuance of global bonds to fund ...Keep on reading: BSP: Foreign debt rising but still at ‘prudent’ levels Read more