PH foreign debt drops 4.6% in Q1

THE Philippines’ foreign debt dropped to $75.3 billion at the end of March this year, down by $3.6 billion or 4.6 percent from a year earlier mainly due to revaluation adjustments and net repayments, the Bangko Sentral ng Pilipinas (BSP) said.

Compared to the previous quarter, the country’s foreign debt declined by 3 percent from the $77.7 billion recorded in the last quarter of 2014, the BSP said.