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flag Philippines' external debt hits record $139.64 billion, up 7.3% from last quarter.

flag The Philippines' external debt reached a record $139.64 billion by September 2024, up 7.3% from the previous quarter and 17.5% from the same period in 2023. flag The Bangko Sentral ng Pilipinas attributes the rise to increased public and private sector borrowing and foreign investment in local debt. flag Despite the increase, the external debt-to-GDP ratio stayed at 30.6%, and the majority of the debt is in medium- to long-term loans.

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