On 29 April 2019, the Philippine Statistics Authority (PSA) granted clearance for the conduct of the External Debt Survey (EDS) spearheaded by the Bangko Sentral ng Pilipinas (BSP).
The EDS is conducted quarterly (March, June, September, and December) to collect information on Philippine residents’ borrowings from and obligations to foreign (non-resident) creditors/parties. These information are used to monitor capital flows (including foreign debt) and analyze and manage their implications.
Respondents of the survey are corporations from the latest list of Business World’s Top 1,000 corporations not submitting foreign loan reports to BSP. A total of 200 corporations per quarter are selected to answer the survey.
Major data items collected in the survey are the following:
- outstanding balance of foreign loans
- amount committed to be loaned
- name of corporation and country of residence of creditor
- currency of loan
- purpose of requesting loan
- maturity/grace period
- applicability of hedging
The EDS aims to generate statistics for the Special Data Dissemination Standard (SDDS) in adherence to PSA Board Resolution No. 01, Series of 2017 - 047 (Ratifying the Philippine Government Subscription to the SDDS). The SDDS was established in 1996 by the International Monetary Fund (IMF) to guide members that have, or might seek, access to international capital markets in the provision of their economic and financial data to the public.
The survey was reviewed and cleared for conduct under the Statistical Survey Review and Clearance System (SSRCS), a mechanism being implemented by the PSA by virtue of Rule 28 of Implementing Rules and Regulations (IRR) of Republic Act (RA) No. 10625 to:
- ensure sound design for data collection;
- minimize the burden placed upon respondents;
- effect economy in statistical data collection;
- eliminate unnecessary duplication of statistical data collection efforts; and
- achieve better coordination of government statistical activities.
In line with this, the PSA enjoins enterprises to respond in the said undertaking.
For further information on SSRCS, please contact the Statistical Standards Division (SSD) of the Standards Service (SS) with telephone numbers
(02) 376-1928 and (02) 376-1931, and email address: firstname.lastname@example.org or email@example.com.
JOSIE B. PEREZ
Philippine Statistics Authority
See more at the Statistical Survey Review and Clearance System (SSRCS) landing page.