Phl debt hits record P18.55T as gov’t ramps up borrowing

Domestic obligations accounted for the bulk of the debt stock at 67.37 percent, while external debt comprised 32.63 percent, reflecting the government’s strategy of relying more heavily on local financing to support domestic capital markets and reduce exposure to foreign exchange risks. Domestic debt rose by P80.12 billion, or 0.65 percent, to P12.50 trillion, mainly…