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Philippines' external debt hits record $139.64 billion, up 7.3% from last quarter.
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.
The Bangko Sentral ng Pilipinas attributes the rise to increased public and private sector borrowing and foreign investment in local debt.
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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La deuda externa de Filipinas alcanza el récord de $139,640 millones, un aumento del 7,3% con respecto al último trimestre.