MANILA, May 2 (Xinhua) — The Philippines’ debt reduced to 14.93 trillion pesos (roughly 259 billion U.S. dollars) as of end-March, 1.67 percent lower than the country’s outstanding debt recorded in end-February, the Philippines’ Bureau of Treasury said on Thursday.
The bureau attributed the decrease in March debt to the net redemption of domestic government securities.
Of the total debt stock, the bureau said 31.14 percent was sourced externally, while 68.86 percent were domestic borrowings.
The bureau said the country’s external debt amounted to 4.65 trillion pesos (80.7 billion dollars) in March, 1 percent higher than the end-February level.
The increase resulted from the net availment of foreign loans, as well as local currency depreciation, added the bureau.
