Foreign borrowings jump 36% to $3.8 B in Q3
The Philippine Star|October 23, 2024
The Philippines jacked up its borrowings from offshore creditors by almost 40 percent to 3.8 billion in the third quarter, the Bangko Sentral ng Pilipinas
By LOUISE MAUREEN SIMEON

The amount is 36 percent higher than the $2.81 billion recorded in the same period last year.

This brought the public sector foreign borrowings to $10.58 billion in the ninemonth period.

According to the BSP, the bulk of the third quarter borrowings consisted of one bond issuance worth $2.5 billion.

"The bond issuance will fund the government's general budget financing and refinancing of assets in line with the country's sustainable finance framework," the BSP said.

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