External Debt Down to $74.8 Billion in 2016

Outstanding external debt stood at $74.8 billion last year, lower by $2.7 billion from $77.5 billion in 2015. The decline was due to net principal repayments by both public and private sectors amounting to $3.4 billion and audit adjustments worth $168 million due to late reporting. The full downward impact was partly offset by an increase in non-residents’ investments in Philippine debt papers issued offshore amounting to $846 million…

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