Philippine External Debt Slightly Up in First Quarter of 2016

External debt logged at $77.64 billion for the first quarter, rising by 3.1% from the $75.319 billion from a year ago but steady from the $77.474 billion posted at end-2015. It increased as local firms borrowed more from offshore sources at $2.1 billion. A $1.4-billion drop in foreign investments on local debt papers, however, offset this. Loans booked by the national government made up 50.1% of the total at $38.9 billion, slightly higher than the…

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