{
    "success": true,
    "data": {
        "id": 1215922,
        "msgid": "philippine-debt-rising-1447893297",
        "date": "1995-04-13 00:00:00",
        "title": "Philippine debt rising",
        "author": null,
        "source": "",
        "tags": null,
        "topic": null,
        "summary": "Philippine debt rising MANILA (AFP): The rise of the yen against the dollar has increased the Philippines' debt stock by US$2 billion, but Central Bank Governor Gabriel Singson said this would have no immediate impact. A revaluation of the Philippines' foreign debt, which stood at an equivalent $37 billion as of September 1994, shows the recent appreciation of the yen by nearly 20 percent against the dollar has increased the Philippines' debt stock by $2.46 billion, Singson said.",
        "content": "<p>Philippine debt rising<\/p>\n<p>MANILA (AFP): The rise of the yen against the dollar has<br>\nincreased the Philippines' debt stock by US$2 billion, but<br>\nCentral Bank Governor Gabriel Singson said this would have no<br>\nimmediate impact.<\/p>\n<p>A revaluation of the Philippines' foreign debt, which stood at<br>\nan equivalent $37 billion as of September 1994, shows the recent<br>\nappreciation of the yen by nearly 20 percent against the dollar<br>\nhas increased the Philippines' debt stock by $2.46 billion,<br>\nSingson said.<\/p>\n<p>This is because one-third of the country's debt stock, or the<br>\nequivalent of $12.45 billion, was owed to Japanese creditors, he<br>\nsaid.<\/p>\n<p>However, the effects of the currency crisis were \"neutralized\"<br>\nsince 30 percent of the Philippines' $6.5 billion international<br>\nreserves were yen-denominated, thus resulting in a $380 million<br>\nincrease in international assets, Singson said.<\/p>\n<p>The \"unwanted appreciation\" of the country's debt stock, he<br>\nadded, \"has no immediate impact\" on the Philippines, since the<br>\nloans from Japan, mostly from the Overseas Economic Cooperation<br>\nFund, were concessional and repayable over 30 years at an<br>\ninterest rate of 2.5-to-3.5 percent.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/philippine-debt-rising-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}