RP's debt $39.37b

RP's debt $39.37b

MANILA (AFP): The Philippines' foreign debt rose 1.8 percent from a year earlier to US$39.37 billion at the end of 1995 due to foreign currency fluctuations, Central Bank of the Philippines governor Gabriel Singson said.

Singson said monetary authorities excluded from the computation money remitted by foreign banks to their local branches because these cannot be considered as loans.