Philippines Says Companies’ Global Debt May Exceed Estimates
- Central bank to push companies to disclose foreign debt
- San Miguel, Ayala are largest Philippine corporate borrowers
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The Philippine central bank plans to require the nation’s largest business groups to disclose their foreign-debt levels due to concern their exposure may be bigger than currently estimated.
The monetary authority aims to send out requests in the next three to six months as it seeks to head off any potential risk to the Southeast Asian nation’s economy, according to Bangko Sentral ng Pilipinas Governor Felipe Medalla.