Foreign borrowings rise to $14.5 billion in 2023Data released by the central bank yesterday showed foreign borrowings approved by the BSP amounted to $14.49 billion in 2023, $4.17 billion higher than the $10.32 billion obtained in 2022 from foreign lenders. Data released by the central bank yesterday showed foreign borrowings approved by the BSP amounted to $14.49 billion in 2023, $4.17 billion higher than the $10.32 billion obtained in 2022 from foreign lenders. National government borrowings via global bond issuances declined by 16.1 percent to $4 billion in 2023 from $4.77 billion a year ago. On the other hand, the central bank also approved 12 project loans worth $5.67 billion in 2023, a 21-percent jump from $4.68 billion in 2022. For the fourth quarter of 2023 alone, BSP-approved foreign borrowings surged by 65.8 percent to $3.32 billion from $2 billion in the same quarter in 2022.
