Philippines - Gross External Debt





Philippines: Gross External Debt

Mnemonic GDBTEXT.IPHL
Unit Mil. USD, NSA
Adjustments Not Seasonally Adjusted
Quarterly 1.88 %
Data 2022 Q2 107,692
2022 Q1 109,753

Series Information

Source Central Bank of Philippines (BSP)
Release External Debt - Quarterly
Frequency Quarterly
Start Date 12/31/2005
End Date 6/30/2022

Philippines: Government

Reference Last Previous Units Frequency
Government Budget Balance Oct 2022 -99,061 -179,760 Mil. PHP, NSA Monthly
Outstanding Public Debt - Domestic Oct 2022 23,301 176,042 Mil. PHP, NSA Monthly
Outstanding Public Debt - Foreign Oct 2022 16,516 30,954 Mil. PHP, NSA Monthly
Government Expenditures Aug 2022 404,476 395,395 Mil. PHP, NSA Monthly
Government Revenues Aug 2022 332,440 308,632 Mil. PHP, NSA Monthly
Gross External Debt 2022 Q2 107,692 109,753 Mil. USD, NSA Quarterly
Outstanding Public Debt 2022 Q2 3,174,438,895,700 3,056,546,626,500 NCU, NSA Quarterly

Release Information

For the Philippines, external debt covers all short-term and medium-term obligations of the BSP, domestic commercial banks, public and private sectors payable to non-residents. The data is classified according to IMF's BPM6. 

Active:

  • Framework: IMF BPM6
  • Measurement: Millions of U.S. dollars
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: Uniformly 2005Q4

Predecessor:

  • BPM5 - 1984Q2 to 2014Q3 ("_14")

Short-term external debt are those with maturities of one year or less, while medium- and long-term external debt consist of foreign borrowings with maturities of more than one year. Official external debt statistics cover only BSP approved/registered borrowings, disbursed and outstanding. However, for transparency, the exclusions from the official debt statistics are also reported as footnotes to the external debt data. These are (a) intercompany accounts (gross Due to Head Office/Branches) of Philippine branches of foreign banks; (b) private sector loans without BSP approval/registration; and (c) private sector obligations under capital lease agreements.

Intercompany accounts of Philippine branches of foreign banks are excluded because these are treated by the monetary authority as quasi-equity, in view of the token amount of permanently assigned capital required from these banks. Meanwhile, private sector loans without BSP approval/registration are also not included because these do not represent claims against foreign exchange resources of the financial system since payments for these accounts are not allowed to be funded with banking system resources.

Debts classes include:

  • General government
  • Monetary authorities
  • Banks
  • Other sectors
  • Direct investment: Intercompany lending

Source: International Operations Department

Further reading

At IMF (SDDS):