The Central Bank of the Philippines’ Monetary Board approved USD 1.10 billion of proposed public sector foreign borrowings in the third quarter of 2025, a 71.13% decline from USD 3.81 billion in the same period last year. The approvals covered medium- to long-term borrowings. The approved transactions comprised two loans to finance social protection projects. Total public sector foreign borrowings reached USD 12.28 billion in the first three quarters of 2025. The central bank noted that, under Philippine law, foreign borrowing proposals by the National Government, government agencies and government financial institutions, as well as loans to be guaranteed by the National Government, require prior Monetary Board approval as part of its mandate to help keep the country’s foreign debt manageable.
Central Bank of the Philippines 2025-10-24
Central Bank of the Philippines Monetary Board approves USD 1.10 billion in proposed public sector foreign borrowings in Q3 2025, down 71% year on year
The Central Bank of the Philippines’ Monetary Board approved USD 1.10 billion in public sector foreign borrowings for Q3 2025, marking a 71.13% decrease from the previous year. These approvals included two loans for social protection projects. Total foreign borrowings for the first three quarters of 2025 reached USD 12.28 billion, with all proposals requiring prior approval to manage foreign debt levels.