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Philippine foreign debt rises to $60.9B as of end-March.
THE COUNTRY's outstanding foreign debt rose by 6.8% to $60.9 billion in the first three months of the year, fueled by the government's global bond issue in March and bigger bank borrowings by private companies, the central bank said in a statement on Thursday.
The Bangko Sentral ng Pilipinas (BSP) said the country's foreign debt stock was also 1.5% more than the $60 billion recorded as of end-2010.
External debt consists of borrowings by Philippine residents from nonresidents that are approved by and registered with BSP.
The central bank attributed the year-on-year increase to net availments by both public and private sector borrowers totaling $3.4 billion, …
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