Gov’t to prepay $300M in loans
The government will prepay this year $300 million worth of loans owed to the Asian Development Bank.
The government will prepay this year $300 million worth of loans owed to the Asian Development Bank.
THE COLLECTIVE debt of Philippine private and government entities to foreign creditors dropped in September from a year ago due to the significant appreciation of the peso against the US dollar.
The country’s debt to foreign lenders grew in the first half from that of a year ago as the government and private entities tapped more loans to fund their expenditure and investment requirements. Data from the Bangko Sentral ng Pilipinas showed that, as of end-June, the collective debt of Philippine government entities and private firms [...]
The country’s outstanding foreign debt amounted to $60.9 billion as of end-March, up by 6.8 percent from $57 billion recorded in the same period last year, according to the Bangko Sentral ng Pilipinas. Despite the increase, the share of the country’s foreign debt to economic output went down to 29.5 percent from 32.5 percent over [...]
