Foreign Debt Rises to $147B

The country's outstanding external debt climbed to $146.74 billion as of end-March, driven mainly by fresh borrowings from the national government and local banks, according to the Bangko Sentral ng Pilipinas (BSP).

- By KEISHA TA-ASAN

The latest figure is 6.6 percent higher than the $137.64 billion posted in the fourth quarter of 2024, and 14 percent more than the previous year's $128.76 billion.

Despite the increase, the BSP said the Philippines' external debt remained at a prudent level, equivalent to 31.5 percent of gross domestic product (GDP). While higher than the 29.8 percent recorded a quarter earlier, the central bank said this ratio remains "indicative of the country's capacity to meet foreign obligations."