PH foreign debt drops $3.82B after Q1 repayments

The Philippines’ foreign debt stock fell by $3.82 billion in the first quarter of 2017 from a year earlier due to principal repayments, adjustments made to the comparative periods to include late reports, and foreign exchange revaluation, central bank data showed over the weekend.

The outstanding Philippine external debt as of end-March 2017 stood at $73.8 billion, down from $77.64 billion recorded in the first three months of 2016 and down from $74.8 billion at end-December.