Philippine entities have until the end of September this year to submit their foreign borrowing plans for the fourth quarter, the Bangko Sentral ng Pilipinas (BSP) reminded.

“Submission is required for resident entities planning to obtain medium- and long-term foreign loans or borrowings from non-residents, including through offshore debt issuances, as well as those planning to issue onshore debt instruments payable in foreign currency,” the BSP said in a statement on July 28.

The submitted plans enable the central bank to project the country’s foreign funding requirements for the upcoming year. The requirement aligns with the BSP’s mandate to ensure that foreign currency borrowings can be serviced in an orderly manner and remain within the nation's debt-servicing capacity.

In the third quarter of 2025, the BSP approved $1.10 billion in proposed public sector foreign borrowings—a 71.13 percent drop from the $3.81 billion recorded during the same period in 2024. Total public sector foreign borrowings reached $12.28 billion as of end-September 2025.

Under existing regulations, the Monetary Board must grant prior approval for all proposed foreign borrowings by the national government, government agencies, and government financial institutions, as well as loans backed by a national government guarantee.

“This is in line with the BSP’s task of ensuring that the country’s foreign debt remains manageable,” the central bank noted in an earlier advisory. (Derco Rosal)