The country's external debt is expected to remain manageable amid increased foreign borrowings to support the government's coronavirus disease 2019 (Covid-19) pandemic response, the Bangko Sentral ng Pilipinas (BSP) said.
"Although foreign borrowings grew by $14.9 billion in 2020, the economy continues to have the capability to service its maturing foreign obligations in view of the country's manageable debt profile, relatively low external debt-to-gross domestic product (GDP) ratio and low debt service ratio," said BSP Governor Benjamin Diokno during an online briefing on Thursday.
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