MANILA, Jan. 7 (Xinhua) -- The Philippines' debt increased to 16.09 trillion pesos (roughly 277 billion U.S. dollars) as of end-November 2024, 0.4 percent higher than the outstanding debt in October 2024, the Philippines' Bureau of Treasury said Tuesday.
The bureau attributed the spike to net financing and the impact of local currency depreciation on the valuation of foreign-currency-denominated debt.
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