THE country’s outstanding external debt totaled $73.2 billion at the end of the first quarter, expanding from the end of 2017 but lower compared with the same period last year, Bangko Sentral ng Pilipinas (BSP) data showed. The country’s debt service ratio (DSR) also improved to 7.6 percent from 9.1 percent a year ago. About 82.4 percent of the Philippines’ external debt is medium to long-term in nature with maturities of over one year. This means that foreign exchange requirements for debt payments are well spread out and more manageable, the central bank said. Of the country’s first quarter external debt, 53.6 percent or $39.2 billion was owed by the public sector.

Source: Manila Times June 15, 2018 18:33 UTC