The BSP pronounced on Friday that debt prepayments on medium- and lengthy-term foreign loans fell via 16 percent to $1.541 billion within the first six months of 2016, as compared with $1.834 billlion inside the first half of 2015.
The drop in prepayments, in line with BSP’s deputy governor, Diwa Guinigundo, changed into due to two reasons: the debt owed by way of overseas assets are decreasing, and current payers need to avoid paying prepayment expenses.
There are mortgage contracts, he stated, that don’t permit prepayments; and if there are prepayment provisions, there are prepayment charges too.
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