THE Philippines' debt pile remains manageable, and the country is in no danger of turning into another Sri Lanka, Finance Secretary Benjamin Diokno said on Tuesday.Speaking at the Senate Committee on Ways and Means meeting, Diokno brushed off speculation that the Philippines could go the way of Sri Lanka, which defaulted on its debt last May and whose president, Gotabaya Rajapaksa, was ousted last month.Sen.
We're very careful with our borrowings.''In fact, as [National Treasurer Rosalia de Leon has] said, I think most of our debt is long term.'He also claimed that his predecessor, Finance Secretary Carlos Dominguez 3rd, had made sure that the Philippines borrowed at the lowest possible interest rates and that debt maturities would be spread out.The national government's debt stood at a record P12.
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