RP foreign debt totals $46.8b

RP foreign debt totals $46.8b

MANILA (AFP): The Philippines' outstanding external debt stood at US$46.8 billion as of end-2000, the central bank said Tuesday, down from $51.85 billion in September.

Manila used an amount equivalent to 14.7 percent of export receipts to service the debt last December, compared with 12.1 percent in September and 12.5 percent in December 1999.

Foreign liabilities last year were mostly medium- and long- term loans, accounting for about 89.2 percent, with the balance short-term debt, the central bank said.