The Bangko Sentral ng Pilipinas (BSP) defines external debt as all types of borrowings by Philippine residents from non-residents that are approved/registered by the institution. It covers all short- and medium-term obligations of the BSP, domestic commercial banks, public and private sectors’ payable to non-residents. It excludes the following: (i) intercompany accounts (gross Due to Head Office/Branches) of Philippine branches of foreign banks; (ii) private sector loans without BSP approval/registration; and (iii) private sector obligations under capital lease agreements.>>read complete document
