Philippines targets foreign-currency debt reduction

Rosalia De Leon, treasurer of the Philippines in its department of finance, says the dependency will change, with the country's local-currency market growing quickly.
The administration of president Benigno Aquino has cut wasteful spending and streamlined tax collection, which has improved the fiscal position and reduced borrowing costs.
The administration of president Benigno Aquino has cut wasteful spending and streamlined tax collection, which has improved the fiscal position and reduced borrowing costs.
August 29, 2013

The Philippines is aiming to cut its dependency on foreign-currency debt; a reliance some fear could threaten the country’s economic prospects.

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