Philippines’ commercial borrowing for 2024 to reach $5 billion — national treasurer

This undated file photo shows one thousand peso bills. (The STAR/Walter Bollozos/File Photo)

MANILA — The Philippines’ external commercial borrowing for next year is expected to reach $5 billion, its national treasurer said on Monday.

The Philippines, among Asia’s most active issuers of debt, will rely in part on borrowings to fund its 2024 budget of 5.76 trillion Philippine pesos ($103.32 billion).

($1 = 55.7500 Philippine pesos)

—Reporting by Karen Lema


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