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Philippines' central bank approves $13.68B in foreign borrowings, a 5.6% decrease from 2023.
In 2024, the Philippines' central bank, the Bangko Sentral ng Pilipinas (BSP), approved $13.68 billion in foreign borrowings, a 5.6% decrease from 2023.
The reduction is mainly due to fewer program and project loans, though it was partly offset by increased bond issuances.
The funds are allocated towards general financing, infrastructure, education, health, and agrarian reform projects.
The BSP aims to maintain manageable external debt levels to ensure financial sustainability.
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El banco central de Filipinas aprueba $13.68B en préstamos extranjeros, una disminución del 5,6% con respecto a 2023.