MANILA, April 3 (Xinhua) -- The Philippines' debt rose to 15.18 trillion pesos (roughly 269.2 billion U.S. dollars) as of end-February 2024, a 2.63 percent increase from end-January, the Philippines' Bureau of Treasury said on Wednesday.
The bureau attributed the rise in February debt from the previous month's level to domestic debt issuances, though partially tempered by the effect of the stronger peso on foreign valuation.
Of the total debt stock, the bureau said 30.32 percent was sourced externally, while 69.68 percent were domestic borrowings.
The bureau said the country's external debt amounted to 4.60 trillion pesos (81.58 billion dollars), 0.56 percent lower than in January. It attributed the decrease in foreign debt to favorable foreign exchange movements by both local and third currencies against the dollar. ■
