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Monday, April 21, 2025 Vol. 20 No. 189
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END-JAN EXTERNAL DEBT SERVICE LOAD DIPS 54% T By Reine Juvierre S. Alberto @reine_alberto
HE country’s external debt service burden eased by more than half as of end-January 2025, on the back of the decline in principal payments. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the total external debt service burden declined by 54.29 percent to $799 million as of end-January 2025 from $1.748 billion during the same period in 2024. This covers principal and interest payments on fixed medium- and long-term (MLT) credits, including International Monetary Fund credits, Paris Club loans, commercial
banks’ rescheduling and New Money Facilities, as well as interest on fixed and revolving short-term liabilities of banks and non-banks. Broken down, interest payments reached $719 million, outpacing principal payments as of end-January 2025. This is 3.75 percent higher than the $693 million recorded a year ago. Principal of the total debt service See “End-Jan,” A2
PHL WON’T HIT UMIC STATUS IN ’25; GOAL DOABLE IN ’26–NEDA By Bless Aubrey Ogerio
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HE country is unlikely to achieve upper middle-income status this year due to modest economic growth and global uncertainties, but the goal remains within reach by 2026, according to the National Economic and Development Authority (Neda). Socioeconomic Planning Secretary Arsenio Balisacan said hitting the income threshold would require at least 6 percent gross domestic product (GDP) growth this
year and next—an outlook that remains possible, though increasingly challenging. “Not this year. Probably not this year,” Balisacan said in a press briefing last week, explaining that the official classification is based on this year’s economic performance, which won’t be confirmed until data is released in mid-2026. He added, “I think the upper middle-income status is challenging. But, I think, if we get 6 percent this year [and] 6 percent next year, we should achieve that See “PHL,” A2
FAITH, FESTIVITY, AND NEW BEGINNINGS Across the Philippines, Easter Sunday was marked with both solemn devotion and joyful celebration: At the National Shrine of Saint Padre Pio in San Pedro, Santo Tomas, Batangas, the Salubong reenacted the joyous meeting of the Risen Christ and the Blessed Virgin Mary, with an angel lifting her black veil to the sound of the Hallelujah. Children performed the Bati dance—derived from pagbati or “to greet”—before the sacred images in celebration of the Resurrection. In Quezon City, a young girl painted Easter eggs, symbolizing new life and the hope brought by Christ’s resurrection. ROY DOMINGO AND NONIE REYES
WTO: Asia’s merchandise trade 2nd hardest hit by tariffs By Andrea E. San Juan
EGG-CITING EASTER FUN AT SM BAGUIO Easter at SM City Baguio was a spectacular celebration of joy and wonder! Families and children were treated to an unforgettable day filled with enchanting activities—from a dazzling Easter Costume Contest and lively Parade to the thrilling Easter Egg Hunt that brought smiles and excitement to all. SM SUPERMALLS
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SIA’S merchandise trade is seen to be the second most affected by the tariff measures implemented by Washington, the World Trade Organization’s (WTO) forecast shows. Data from the WTO’s Global Trade Outlook Report April 2025 showed that the 166-member global trade organization has trimmed its merchandise trade volume growth and gross domestic product (GDP) growth projections in 2025 for North America, South America, Europe and Asia. For Asia, WTO said its merchandise exports volume is seen
to grow by 1.6 percent this year, 1.7 percentage points lower than the 3.3 percent baseline forecast of WTO. For imports, WTO adjusted its forecast for Asia to a 1.6-percent growth for this year, 1.6 percentage points lower than its 3.2 percent baseline forecast. It is worth noting that among the seven regions being gauged by WTO globally, Asia has the second steepest cut to the trade volume growth forecast for this year for merchandise exports and imports, as well as GDP growth projection. WTO forecasts showed that
SONGWRITING 101 HOW TRINA BELAMIDE FOUND HER GROOVE IN MUSIC
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See “WTO,” A2
PESO EXCHANGE RATES n US 56.9760 n JAPAN 0.3980 n UK 75.3906 n HK 7.3448 n CHINA 7.7888 n SINGAPORE 43.2062 n AUSTRALIA 36.0943 n EU 64.2974 n KOREA 0.0399 n SAUDI ARABIA 15.1843 Source: BSP (April 16, 2025)