Foreign Borrowings 1987 to 2005

This entry was originally a response to this comment by moks on the comparability of nominal amounts of borrowings over 20 years.

From this PCIJ entry on domestic and foreign borrowings across different administrations. I converted the peso values to its equivalent in US Dollars and multiplied by a factor* to arrive at the equivalent US Dollar value (using 'relative share of GDP') in 2005.

Foreign Borrowings 1987 to 2005

Year	Billions(PHP)	PHP to USD Conversion	Multiplier*	Billions(USD)
1987	15.42	20.57	2.6281	1.97
1988	17.29	21.1	2.4405	2.00
1989	19.95	21.74	2.2711	2.08
1990	24.41	24.31	2.1464	2.15
1991	23.09	27.48	2.0774	1.75
1992	34.14	25.51	1.9654	2.63
1993	38.22	27.24	1.871	2.63
1994	12.29	26.33	1.7612	0.82
1995	16.83	25.7686	1.6837	1.10
1996	21.96	26.25	1.5934	1.33
1997	23.00	29.42	1.4999	1.17
1998	48.30	40.84	1.424	1.68
1999	120.35	39.1391	1.3439	4.13
2000	145.43	44.24	1.2688	4.17
2001	68.48	50.993	1.2298	1.65
2002	200.27	51.604	1.1897	4.62
2003	240.12	54.203	1.1364	5.03
2004	199.53	56.04	1.0635	3.79
2005	217.91	55.086	1	3.96

*in measuringworth.com

Graphically represented, it can be seen that the Arroyo Government, compared to previous administrations, has been the most aggressive in terms of foreign borrowings followed closely by the Erap Admin. The average foreign borrowings per year per administration are as follows:

Cory Aquino - 2.0 Billion US Dollars per year
Fidel Ramos - 1.6 Billion US Dollars per year
Erap Estrada - 3.3 Billion US Dollars per year
Gloria Arroyo - 3.8 Billion US Dollars per year (so far)

Update 03-19-2007: Relevant related commentary on this subject from caffeinesparks.

Update 08-13-2008: Related updates from the PCIJ.