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MANILA, Philippines – The Philippines’ external debt service burden got heavier in the first two months of 2026, driven by a sharp growth in principal payments, according to data from the Bangko Sentral ng Pilipinas (BSP).
The government and private sector paid a combined $2.1 billion in external debt service from January to February, up more than 31 percent from a year earlier.
Debt service as a share of export receipts—a key gauge of a country’s ability to pay its foreign obligations—also climbed to 17.5 percent from 15.7 percent a year earlier.
READ: Philippine external debt burden eases
