Based on the records of Bangko Sentral ng Pilipinas (BSP), as of June 30, 2000 the country owes US$52.164 billion to foreign creditors reflecting a US$ .251 billion drop from the end of March 2000 level of US$ 52.415. The country's outstanding external debt is US$ 4.347 higher since President Estrada assumed office.

Medium and Long-Term accounts or accounts payable over a period of more than one year, comprise 88.64% of the total liabilities, which is favorable to the country.(See Table 1)

Table 1: Total Philippine Foreign Exchange Liabilities by Creditor Type, as of June 2000. (in million US dollars)

Creditor	Amount
I. Medium and Long-Term	46,232
II. Short-Term	5,932
Trade	1,916
Non-Trade	4,015
TOTAL	52,164

Bilateral agencies, specifically Japan accounts for 26.9% of the country's outstanding foreign exchange liabilities, while multilateral agencies account for 18.9% and 25.68% represents the bondholders/Noteholders.(See Table 2)

Table 2: Total Philippines Foreign Exchange Liabilities by Country Profile, as of June 2000 (in $ million) Creditor Amount Country of which: 28,904 USA 4,993 Japan 14,031 UK 481 France 1,287 Germany 3,109 Multilateral Agencies 9,864 Bondholders/Noteholders 13,396 TOTAL 52,164 Source: BSP [PAGE 1] [PAGE 2] [PAGE 3] [PAGE 4] Copyright © 2001. The Supervixens. Sheryle Pablo and Dinah Silverio. All Rights Reserved. University of the Philippines,Diliman Q.C.