ASEAN KEY DESTINATIONS
Philippines debt down as peso goes up
With the Philippine population at 94 million, every Filipino therefore would be in hock for P49,637.
Of the total obligations, P1.965.7 trillion, or 42 percent is owed to foreigners while P2.698.5 trillion, or 58 percent, to domestic creditors.
The domestic component of the debt fell month-on-month as the government redeemed Treasury notes.
The foreign component of the debt rose on the combined effects of the P49-billion net availment, P12-billion appreciation of the third currencies against the US dollar, and P57-billion appreciation of the peso against the US dollar.
The Philippines' contingent debt, composed mainly of guarantees issued by the national government for obligations incurred by its agencies, declined to P561 billion from the end-August level of P576 billion.
The decline was because of the P4-billion net repayments, P13-billion appreciation of the peso against the US dollar, and P1-billion adjustments because of the late recording of the repayment of a loan by state-run Philippine National Oil Company to the Export-Import Bank of Japan.
This was, however, partially offset by the P3-billion appreciation of the third currencies against the US dollar.
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