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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
City skyline at sunset in Metro Manila
Economic Updates
Quarterly Economic Growth Release: Stronger case for a BSP cut in August
August 7, 2025 DOWNLOAD
economy-ss-3
Economic Updates
Inflation Update: BSP’s low-inflation safety net
August 5, 2025 DOWNLOAD
bsp-banner
Economic Updates
Monthly Economic Update: Two more BSP cuts 
July 31, 2025 DOWNLOAD
View all Reports
BusinessWorld 1 MIN READ

External debt service burden rises at end-Oct.

January 20, 2025By BusinessWorld
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Peso weakens on geopolitical concerns, policy easing bets August 13, 2024 Philippine debt hits record-high PHP 17.27T July 31, 2025 February FDI inflows highest in 14 months May 11, 2023

The country’s external debt service burden jumped by almost 20% as of end-October, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

Debt servicing on external borrowings climbed by 19.8% to USD 14.475 billion in the January-October period from USD 12.078 billion in the same period in 2023. BSP data showed principal payments surged by 23.6% to USD 7.846 billion from USD 6.349 billion in the same period in 2023.

Amortization accounted for over half (54.2%) of debt servicing during the period.

Meanwhile, interest payments rose by 15.7% to USD 6.629 billion in the first 10 months from USD 5.73 billion in the previous year.

At end-September, the external debt service burden as a share of gross domestic product (GDP) stood at 3.9%, up from 3.5% in the previous year.

Separate data from the BSP showed the Philippines’ outstanding external debt hit a record USD 139.64 billion as of end-September, higher by 17.5% year on year.

Broken down, this was composed of USD 86.88 billion in public sector debt and USD 52.76 billion from private sector obligations.

This brought the external debt-to-GDP ratio to 30.6% at the end of the third quarter.

The BSP’s external debt data cover borrowings of Philippine residents from nonresident creditors, regardless of sector, maturity, creditor type, debt instruments or currency denomination. — L.M.J.C. Jocson

This article originally appeared on bworldonline.com

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