Total External Debt (By Type of Debt, Borrower, Creditor and Country Profile)

External Debt covers all short-term and medium-term obligations of the BSP, domestic commercial bank, public and private sectors' payable to non-residents. Short-term external debt obligations are those with maturities of one year or less, while medium and long-term external debt consists 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) inter-company 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 BSP as quasi-equity, in view of the token amount of permanently assigned capital required from these banks. Meanwhile, private sector loans without BSP approval/registrations are also not included because these do not represents claims against foreign exchange resources of the financial system