Sep 28, 2017

External Debt Ng Pilipinas Bumaba Ng $5.2-Bilyon Sa Ilalim Ng Pamamahala Ng Duterte Administration!


Under the leadership of Pres. Rodrigo Duterte, the Philippines outstanding external debt went down by 6.7 percent or $5.2 billion year-on-year to $72.5 billion partly due to loan prepayments as of end-June this year 2017.
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The Good News was released to the media by Bangko Sentral ng Pilipinas (BSP) Officer-In-Charge Diwa C. Guinigundo.

Diwa C. Guinigundo - BSP OIC

On a quarter-on-quarter basis, external debt declined by 1.8 percent or $1.3 billion from $73.8 billion end-March.

Guinigundo in a statement said “all key external debt indicators remained at comfortable levels during the second quarter.” External debt is equivalent to 23.5 percent of GDP compared to the previous year’s 26.2 percent.

The external debt ratio which is a solvency indicator, also improved to 19.5 percent of annual aggregate output from 21.7 percent last year.

External debt includes all types of borrowings by residents from non-residents. It is the outstanding amount of actual current, and not contingent, liabilities that require payments of interest and/or principal at maturity.

Guinigundo said the debt stock declined year-on-year because of the following: from a $2.7-billion net principal repayments by both the public and private sectors during the period; and previous periods’ adjustments which was a negative $1.4 billion due to late reporting.

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Source: Front Page

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