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Byline: Antonio Siegfrid O. Alegado
THE COUNTRY's outstanding external debt rose by nearly a tenth year on year in 2010 on the back of increased availment by both the public and private sectors as well as foreign exchange revaluation, the central bank said in a statement on Thursday.
The Bangko Sentral ng Pilipinas (BSP) said Philippine foreign debt stock rose 9.5% to $60.1 billion as of end-December last year from $54.9 billion at end-2009.
That increase was bigger than the 1% annual hike seen in 2009.
The 2010 total consisted of public and private sector debt totaling $46.2 billion and $13.9 billion, respectively.
External debt …