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.