The Philippines’ outstanding external debt approved or registered by the central bank recorded a year-on-year decline of 1.2 percent in the first quarter of the year.

Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. reported that the country’s outstanding external debt approved or registered by the BSP stood at $58.3 billion at end-March 2014 and down by $165 million or 0.3 percent from the $58.5 billion level at the close of 2013.

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