MANILA, Philippines—The Philippine financial system saw an increase in debt issuances in the fourth quarter of 2020, with the private sector borrowing more from nonbank funders during the coronavirus pandemic, according to the Bangko Sentral ng Pilipinas (BSP).
In a statement, the BSP cited preliminary data from its survey showing the domestic claims of so-called Other Financial Corporations grew by 7.9 percent in the last three months of 2020 to P6.95 trillion from P6.45 billion during the same period in 2019.
“This increase is mainly attributed to the rise in the claims on the private sector, and depository corporations as well as the sector’s net claims on central government,”…
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