The Philippines booked a double-digit rise in external debt to $109.75 billion in end March this year from $97.05 billion in the same month last year as the national government borrowed more to fund COVID-19 response measures and bankroll much needed infrastructure projects.

Outgoing Bangko Sentral ng Pilipinas Governor and incoming Finance Secretary Benjamin Diokno attributed the 13.1 percent year-on-year increase in the country’s debt stock to $16.4 billion in net availments, largely by the national government amounting to $12 billion and prior periods’ adjustments of $3.2 billion.....

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Via philstar.com