In Depth with Foreign Debt
Based on BSP data, during the Aquino administration (1986-1991) foreign debt was at $31.392 billion, depicting a $3.136 billion increase in a span of 6 years.
(See Table 3)
| Table 3: External Debt, 1986-1991
(In $ million) |
|
|
| 1986 | 28,256 |
| 1987 | 28,649 |
| 1988 | 27,915 |
| 1989 | 27,616 |
| 1990 | 29,955 |
| 1991 | 31,392 |
Source: BSP
But during the Ramos Administration, the foreign debt increased by $13.344 billion from 1992-1997, making the country more debt-driven.
(See Table 4)
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