THE country's debt service burden plunged by 34.9 percent to $1.59 billion as of the end of February from $2.44 billion a year earlier, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.
THE country's debt service burden plunged by 34.9 percent to $1.59 billion as of the end of February from $2.44 billion a year earlier, preliminary Bangko Sentral ng Pilipinas data showed. Principal payments dropped by 62.6 percent to $383 million from $1.18 billion while interest payments were 4.2 percent lower at $1.21 billion from $1.26 billion.
It also includes interest payments on banks' and nonbanks' fixed and revolving short-term liabilities, but not prepayments on future years' maturities of foreign loans and principal payments on fixed and revolving short-term liabilities. The BSP last month reported that the country's outstanding external debt fell by $2.02 billion to $137.63 billion by the end of December, down 1.4 percent from the $139.64 billion recorded three months earlier.
Service Burden Lower As Of End-Feb
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