RP’s total external debt has flattened

The bad news is that the Philippines’ total external debt as of March 2010 was $55.42 billion.

The good news is that this level has actually flattened and not increased since eight years ago. Here are the numbers.

Philippines’ total external debt, in US$ billion.

  • 2000, 51.21
  • 2001, 51.90
  • 2002, 53.64
  • 2003,  57.40
  • 2004,  54.85
  • 2005, 54.19
  • 2006, 53.37
  • 2007, 54.94
  • 2008, 53.86
  • 2009, 53.27
  • March 2010, 55.42

source:  http://www.bsp.gov.ph/statistics/spei_new/tab17.htm

The only major difference in the composition of the country’s foreign debt is that the share of banking creditors has declined from around $11 billion average for 2000 to 2007, to only $6.6 billion in 2009-2010. Most of the country’s debts are now with private bondholders/noteholders. From an average of $14 billion in 2000-2002, it’s now up to $20 billion in 2009-2010.

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