The Philippines’ external or foreign debt went up 15.66% year-on-year to $101.2 billion, as per latest data released by the Bangko Sentral ng Pilipinas (BSP).
The new external debt was the highest in nearly 10 years.
This was an increase of $13.7 billion over the same period in 2020 of $87.5 billion.
BSP Governor Benjamin E. Diokno pointed out that the foreign debt stock was still considered at “prudent levels”.
“This is reflective of the faster economic growth in the second quarter,” Diokno said.
The external debt to GDP ratio is considered to be one of the lowest in the ASEAN, according to Diokno.
The BSP chief added that external debt indicators continue to be manageable.
