{"id":167192,"date":"2018-06-16T16:09:45","date_gmt":"2018-06-16T20:09:45","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=167192"},"modified":"2018-06-16T16:09:45","modified_gmt":"2018-06-16T20:09:45","slug":"external-debt-indicators-continued-to-improve-in-q1-espenilla","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/06\/16\/external-debt-indicators-continued-to-improve-in-q1-espenilla\/","title":{"rendered":"External debt indicators continued to improve in Q1: Espenilla"},"content":{"rendered":"
\"Bangko<\/a>
Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. announced that the Philippines’ outstanding external debt stood at US$73.2 billion as of end-March 2018, marginally higher (by US$98 million or 0.1 percent) than the end-2017 level of US$73.1 billion. (Photo By Bangko Sentral ng Pilipinas, CC BY-SA 4.0<\/a>)<\/figcaption><\/figure>\n

MANILA\u00a0<\/strong>— Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. announced that the Philippines’ outstanding external debt stood at US$73.2 billion as of end-March 2018, marginally higher (by US$98 million or 0.1 percent) than the end-2017 level of US$73.1 billion.<\/p>\n

The slight increase in the debt stock during the first quarter was brought about by: (a) positive foreign exchange (FX) revaluation adjustments (US$621 million), due largely from the weakened US Dollar against the Japanese Yen which pushed the debt stock higher by US$655 million (but peso depreciation against the US Dollar decreased the debt level by US$144 million); and (b) prior periods’ adjustments (US$685 million) due to late reporting.<\/p>\n

These upward pressures on the debt stock were partially mitigated by: (a) net principal repayments (US$735 million), which resulted mainly from the bullet payments at maturity as well as prepayments by the private sector; and (b) transfer of holdings of Philippine debt papers issued offshore (US$472 million) by non-residents to residents.<\/p>\n

Compared to the end-March 2017 figure, however, the debt stock declined year-on-year by US$609 million (or 0.8 percent) from US$73.8 billion due to net repayments (US$3.4 billion), primarily on the private sector’s short-term (ST) non-trade accounts. This downward impact on the debt stock was partly offset by: (a) previous periods’ adjustments (positive US$1.5 billion) due to late reporting; (b) upward FX revaluation adjustments (US$713 million); and (c) transfer of Philippine debt papers from residents to non-residents (US$618 million).<\/p>\n

External debt refers to all types of borrowings by Philippine residents from non-residents, following the residency criterion for international statistics.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. announced that the Philippines’ outstanding external debt stood at US$73.2 …<\/p>\n","protected":false},"author":33,"featured_media":127595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216,51951,18891,343],"class_list":["post-167192","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","tag-external-debt","tag-nestor-a-espenilla-jr","tag-philippines","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/167192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=167192"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/167192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/127595"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=167192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=167192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=167192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}