TABLE B.23
FOREIGN DEBT SERVICE FOR LIABILITIES ASSUMED BY THE NATIONAL GOVERNMENT CY 2002-2004
In Thousand US Dollars
PARTICULARS					CREDITOR REFERENCE	LAST YEAR       OF         REPAYMENT	INTEREST RATE/ SERVICE CHARGE      (%)	2002			2003			2004
								PRINCIPAL PAYMENTS	INTEREST/            OTHER CHARGES/   COMMITMENT FEES	TOTAL	PRINCIPAL PAYMENTS	INTEREST/            OTHER CHARGES/   COMMITMENT FEES	TOTAL	PRINCIPAL PAYMENTS	INTEREST/            OTHER CHARGES/   COMMITMENT FEES	TOTAL
	DEVELOPMENT BANK OF THE PHILIPPINES							42,412.48	8,175.78	50,588.26	44,788.93	8,806.08	53,595.01	44,269.73	6,955.34	51,225.07
		REAL ACCOUNTS						6,423.94	1,359.82	7,783.76	6,571.62	1,170.66	7,742.28	6,571.62	1,109.42	7,681.04
			BILATERAL LOANS					6,423.94	1,359.82	7,783.76	6,571.62	1,170.66	7,742.28	6,571.62	1,109.42	7,681.04
				BANCO EXTERIOR DE ESPANA	BEE$1.7M/4	31.07.2006	LIBOR 6 MOS+.002%	82.24	13.31	95.55	82.24	10.44	92.67	82.24	12.22	94.46
				DRESDNER BANK	TEXFIBER/.4	31.07.2006	8.60	19.92	8.96	28.88	22.01	8.04	30.05	22.01	6.15	28.16
				INT'L BANK FUER AUSSENHANDEL	IBFA-PC4	31.07.2006	ASEPS+.6%	212.96	55.10	268.06	235.02	40.80	275.82	235.02	29.79	264.81
				JAPAN EXIMBANK	JAP EXIM PC4	31.07.2006	6.30	1,467.78	484.30	1,952.07	1,544.65	413.78	1,958.43	1,544.65	317.27	1,861.92
				MIDLAND BK PLC	MIDLAND PCIV	31.01.2007	GBP LIBOR+.5%	36.63	10.07	46.70	39.23	11.16	50.39	39.23	8.55	47.79
				MINADANAO PORTLAND CEMENT CORP	MPCC-PC4	31.07.2011	3.00	11.56	6.94	18.49	23.12	6.42	29.53	23.12	5.74	28.85
				PRIVATE EXPORT FUNDING CORP	PEFCO/PCIV	31.07.2006	NSTEB+.5%	42.16	12.89	55.05	42.16	11.31	53.47	42.16	8.67	50.83
				BANCO EXTERIOR DE ESPANA	BEE-$81M/4	31.07.2006	LIBOR 6 MOS+.002%	3,638.66	589.12	4,227.78	3,638.66	461.86	4,100.52	3,638.66	540.83	4,179.48
				BANCO EXTERIOR DE ESPANA	BEE $7.8M/4	31.07.2006	LIBOR 6 MOS+.002%	376.03	60.88	436.91	376.03	47.73	423.76	376.03	55.89	431.92
				MANTRUST BANK, LONDON	MANTRUSTPC4	31.01.2007	LIBOR 6 MOS+.5%	447.23	81.54	528.77	447.23	125.98	573.21	447.23	96.60	543.83
				US EXIMBANK	US-EXIM4	31.01.2007	NSTEB+.5%	56.29	17.21	73.51	56.29	15.10	71.40	56.29	11.58	67.87
				USAID	VRESCO4	31.07.2011	3.00	20.11	12.07	32.18	40.23	11.17	51.39	40.23	9.99	50.21
				USAID	MORESCOPC4	31.07.2011	3.00	12.38	7.43	19.81	24.76	6.87	31.63	24.76	6.15	30.91
		CONTINGENT ACCOUNTS						35,988.53	6,815.96	42,804.50	38,217.31	7,635.42	45,852.73	37,698.11	5,845.92	43,544.03
			BILATERAL LOANS					35,470.61	6,789.57	42,260.18	37,698.11	7,625.91	45,324.02	37,698.11	5,845.92	43,544.03
				BANCO EXT DE ESPANA	BEEPC4	31.07.2006	3.67	5,644.72	3,249.40	8,894.12	6,229.57	3,021.34	9,250.92	6,229.57	2,316.62	8,546.20
				BANQUE BENELUX	BENELUX4	31.07.2006	BIBOR+.6%	413.34	95.81	509.15	456.65	97.06	553.71	456.65	74.42	531.07
				BANQUE FRANCAISE D C	BFCE4	31.07.2006	TMO+.4%	266.17	78.11	344.28	294.06	67.63	361.70	294.06	50.87	344.93
				BANQUE INDOSUEZ MLA	SUEZ/PC4	31.07.2006	TMO+.4%	2.20	0.61	2.81	2.45	0.86	3.31	2.45	0.65	3.10
				BANQUE FRANCAISE DU COMMERCE EXT	PHILFILM4	31.01.2007	TMO+.4%	25.46	7.47	32.93	28.14	6.47	34.61	28.14	4.87	33.00
				DRESDNER BANK	STA INESPC4	31.07.2006	8.60	194.32	87.73	282.05	215.35	78.71	294.06	215.35	60.19	275.54
				MARUBENI CORP	PPMI PC4	31.01.2007	LIBOR+.5%	1,606.51	253.75	1,860.27	1,606.51	655.77	2,262.29	1,606.51	502.82	2,109.33
				MARUBENI CORP	PASAR PC4	31.07.2006	JLTPR+.1%	19,115.87	1,875.92	20,991.79	20,117.02	2,480.62	22,597.64	20,117.02	1,902.02	22,019.04
				MITSUBISHI CORP	MHI/PC4	31.07.2006	JLTPR+.1%	5,624.60	551.96	6,176.57	5,919.18	604.05	6,523.22	5,919.18	463.16	6,382.33
				PLATT SACO	SACOPC4	31.07.2006	LIBOR 6 MOS+.5%	174.65	31.84	206.49	174.65	49.20	223.85	174.65	37.72	212.37
				SOCIETE GENERALE DE BANQUE	SOC.GEN/PC4	31.01.2007	BIBOR+.6%	2,402.77	556.97	2,959.73	2,654.54	564.19	3,218.73	2,654.54	432.59	3,087.13
			COMMERCIAL LOANS					517.93	26.39	544.32	519.20	9.51	528.71	-	-	-
				AMARICAN EXPRESS BANK	DBP3800	30.06.2003	LIBOR 3 MOS+.8125%	17.27	1.25	18.51	17.69	0.47	18.16	-	-	-
				AMARICAN EXPRESS BANK	DBP4000	30.06.2003	LIBOR 3 MOS+.8125%	17.27	1.25	18.51	17.69	0.47	18.16	-	-	-
				AMARICAN EXPRESS BANK	DBP4200	30.06.2003	LIBOR 3 MOS+.8125%	17.27	1.25	18.51	17.69	0.47	18.16	-	-	-
				SECURITY PACIFIC BANK	SECPACIFIC	30.06.2003	LIBOR 3 MOS+.8125%	466.13	22.65	488.78	466.13	8.10	474.23	-	-	-
	NATIONAL DEVELOPMENT COMPANY							2,310.13	450.48	2,250.44	2,461.56	387.12	2,848.67	2,461.56	277.39	2,738.95
		REAL ACCOUNTS						1,520.73	301.05	1,311.62	1,603.88	226.14	1,830.03	1,603.89	153.96	1,757.85
			BILATERAL LOANS					83.15	59.01	142.16	166.29	54.60	220.89	166.29	48.83	215.12
				INSTITUTO DE CREDITO OFFICIAL	ICO\PC4	31.07.2011	3.50	53.02	37.63	90.64	106.03	34.81	140.85	106.03	31.13	137.17
				INSTITUTO DE CREDITO OFFICIAL	ICO/PC4	31.07.2011	3.50	30.13	21.38	51.51	60.26	19.78	80.04	60.26	17.69	77.95
			COMMERCIAL LOANS					1,437.59	242.04	1,169.46	1,437.59	171.55	1,609.14	1,437.59	105.14	1,542.73
				BELGIAN FA	BEL\FA\1ST	31.12.2012	INTEREST FREE	32.16	-	32.16	32.16	-	32.16	32.16	-	32.16
				BELGIAN FA	BEL\FA\2ND	31.12.2013	INTEREST FREE	32.16	-	32.16	32.16	-	32.16	32.16	-	32.16
				INSTITUTO DE CREDITO OFFICIAL	ICO\1 TRA	31.03.2004	5.00	457.75	52.42		457.75	27.70	485.45	457.76	6.75	464.51
				INSTITUTO DE CREDITO OFFICIAL	ICO\2ND	27.04.2004	5.00	457.75	77.00	534.76	457.75	54.12	511.87	457.75	31.35	489.11
				INSTITUTO DE CREDITO OFFICIAL	ICO\ORG\3RD TRA	16.11.2005	5.00	457.75	112.62	570.37	457.75	89.73	547.49	457.75	67.03	524.79
		CONTINGENT ACCOUNTS						789.40	149.43	938.82	857.67	160.97	1,018.64	857.67	123.43	981.10
			BILATERAL LOANS					789.40	149.43	938.82	857.67	160.97	1,018.64	857.67	123.43	981.10
				DAVY MCKEE	DAVY\PC4	31.07.2006	4.00	15.03	2.74	17.77	15.03	4.93	19.96	15.03	3.78	18.81
				MARUBENI CORP[	MARUBEN4	31.07.2006	JLTPR+.1%	245.45	24.09	269.53	258.30	31.85	290.15	258.30	24.42	282.72
				SOCIETE GENERALE DE BANQUE	SOCGENPC4	31.07.2006	4.93	528.92	122.60	651.52	584.34	124.20	708.54	584.34	95.23	679.57
	NPC/PNPP							32,116.07	9,723.20	41,839.26	32,140.72	7,920.92	40,061.65	32,140.72	6,073.39	38,214.11
		REAL ACCOUNTS
			BILATERAL LOANS
				AMARICAN EXPRESS BANK	AMEX A&B PC IV	31.07.2006	ECNSTB+.375%	4,712.74	1,441.13	6,153.87	4,712.74	1,134.20	5,846.93	4,712.74	869.65	5,582.38
				BANK OF TOKYO	BOT PC IV	31.07.2006	ECNSTB+.375%	2,022.30	618.41	2,640.71	2,022.30	499.92	2,522.22	2,022.30	383.32	2,405.61
				MITSUI AND CO	MTSUI/CO PCIV	31.07.2006	JLTPR+.1%	470.84	46.20	517.04	495.50	119.38	614.88	495.50	91.54	587.04
				UNION BANK OF SWITZERLAND	UBS PC IV	31.07.2006	ECNSTB+.375%	3,288.38	1,005.58	4,293.96	3,288.38	791.40	4,079.79	3,288.38	606.81	3,895.19
				US EXIMBANK	EXIM 6122 PCIV	31.01.2007	ECNSTB+.375%	21,621.80	6,611.88	28,233.68	21,621.80	5,376.02	26,997.83	21,621.80	4,122.08	25,743.88
	PHILIPPINE AIRLINES							230.06	40.14	270.19	235.57	60.84	296.41	235.57	45.76	281.33
		REAL ACCOUNTS
			BILATERAL LOANS
				BANQUE FRANCAISE DU COMMERCE EXT	BFCE\PCIV/1	31.07.2006	TMO+.4%	52.55	15.42	67.97	58.06	13.35	71.41	58.06	10.04	68.10
				BANQUE FRANCAISE DU COMMERCE EXT	BFCE\PCIV/2	31.07.2006	LIBOR 3 MOS+.4%	177.12	24.60	201.72	177.12	47.40	224.52	177.12	35.64	212.77
				US EXIMBANK	PAL/US EXIM PC IV	31.01.2007	ECNSTB+.375%	0.38	0.12	0.50	0.38	0.10	0.48	0.38	0.07	0.46
	PHILGUARANTEE							887.54	253.22	1,140.76	887.54	205.53	1,093.06	1,604.12	154.44	1,758.56
		CONTINGENT ACCOUNTS						887.54	253.22	1,140.76	887.54	205.53	1,093.06	1,604.12	154.44	1,758.56
			BILATERAL LOANS					814.79	249.16	1,063.96	814.79	201.42	1,016.21	814.79	154.44	969.23
				FIRST NAT'L BANK OF CHICAGO	FNBC\PCIV	31.07.2006	ECNSTB+.375%	800.99	244.94	1,045.94	800.99	198.01	999.00	800.99	151.82	952.82
				NORTHWEST BK OF MINNESOTA	US-EXIM\4	31.07.2006	ECNSTB+.375%	13.80	4.22	18.02	13.80	3.41	17.21	13.80	2.61	16.41
			COMMERCIAL LOANS					72.75	4.06	76.80	72.74	4.11	76.85	789.33	-	789.33
				AETNA UNIVERSAL	AETNA U	30.06.2003	LIBOR 6 MOS+.8125%	4.54	0.28	4.81	4.54	0.15	4.69	-	-	-
				FIRST NAT'L BANK OF CHICAGO	BUMIPUTR	30.06.2003	LIBOR 6 MOS+.8125%	59.14	3.28	62.42	59.13	3.29	62.43	-	-	-
				AMANAH CHASE BANK	PNCC/AMANAH	30.06.2003	LIBOR 6 MOS+.8125%	9.07	0.50	9.57	9.07	0.67	9.74	-	-	-
				SAUDI BANK	SAUDI IBk	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	789.33	-	789.33
	PHILIPPINE NATIONAL BANK							8,355.62	988.66	9,344.27	8,628.13	1,634.34	10,262.47	96,283.93	1,233.86	97,517.79
		REAL ACCOUNTS						1,863.75	129.62	1,993.36	1,863.75	56.45	1,920.20	286.77	22.01	308.78
			BILATERAL LOANS					286.77	50.92	337.69	286.77	29.55	316.32	286.77	22.01	308.78
				FINNISH EXPORT CREDIT	FINNISH EXPORT CR	31.07.2006	LIBOR 6 MOS+.5%	286.77	50.92	337.69	286.77	29.55	316.32	286.77	22.01	308.78
			COMMERCIAL LOANS					1,576.98	78.70	1,655.67	1,576.98	26.90	1,603.88	-	-	-
				BANK DAGANG NEGARA	PNB 1-1-13	31.12.2003	LIBOR 6 MOS+.8125%	1,150.00	57.39	1,207.39	1,150.00	19.62	1,169.62	-	-	-
				UNIDENMARK ASIA LTD	PNB3-2-003	30.06.2003	LIBOR 6 MOS+.8125%	129.41	6.46	135.87	129.41	2.21	131.62	-	-	-
				UNIDENMARK ASIA LTD	PNB 3-2-103	30.06.2003	LIBOR 6 MOS+.8125%	210.29	10.49	220.79	210.29	3.58	213.88	-	-	-
				WELLS FARGO BANK	PNB 1-2-008	30.06.2003	LIBOR 6 MOS+.8125%	87.27	4.36	91.63	87.27	1.49	88.76	-	-	-
		CONTINGENT ACCOUNTS						6,491.87	859.04	7,350.91	6,764.38	1,577.89	8,342.28	95,997.16	1,211.85	97,209.01
			BILATERAL LOANS					6,491.87	859.04	7,350.91	6,764.38	1,577.89	8,342.28	6,764.38	1,211.85	7,976.24
				CREDIT LYONNAIS	SFM 44-80/3	31.01.2007	TMO+.4%	89.25	26.19	115.44	98.60	22.68	121.28	98.60	17.06	115.66
				MARUBENI CORP	SFD 40-77/37-77	31.07.2006	JLTPR+.1%	907.61	89.07	996.68	955.15	292.42	1,247.56	955.15	224.21	1,179.36
				MARUBENI CORP	SFD 28-77/26-77/2	31.07.2006	JLTPR+.1%	466.46	45.78	512.24	490.89	150.29	641.18	490.89	115.23	606.12
				MARUBENI CORP	SFD 95-75/92-75/1	31.07.2006	JLTPR+.1%	1,352.08	132.69	1,484.77	1,422.90	237.87	1,660.76	1,422.90	182.38	1,605.28
				MARUBENI CORP	SFD 42-74/2	31.07.2006	JLTPR+.1%	846.07	83.03	929.10	890.38	148.84	1,039.22	890.38	114.13	1,004.50
				MARUBENI CORP	SFD 31-74/2	31.07.2006	JLTPR+.1%	794.24	77.94	872.18	835.84	72.18	908.02	835.84	55.34	891.18
				MARUBENI CORP	39-81/38-81	31.07.2006	LIBOR 6 MOS+.5%	753.89	119.08	872.96	753.88	230.80	984.68	753.88	176.97	930.85
				MIDLAND BANK PLC	SFM 113-75/2	31.07.2006	GBP LIBOR+.05%	219.95	60.50	280.45	235.68	67.95	303.63	235.68	52.10	287.78
				MORGAN GRENFELL & CO.	SFM 92-65/2	31.07.2006	LIBOR 6 MOS+.5%	26.54	4.84	31.38	26.54	5.44	31.98	26.54	4.17	30.71
				MORGAN GRENFELL & CO.	SFM 92-66/2	31.07.2006	LIBOR 6 MOS+.5%	45.45	8.29	53.73	45.45	6.36	51.80	45.45	7.21	52.65
				SUMITOMO CORP	SFD 07-83/3	31.07.2006	JLTPR+.1%	178.21	17.49	195.70	187.54	57.42	244.96	187.54	44.02	231.57
				TOYO CORPORATION	SFD 45-78/2	31.07.2006	JLTPR+.1%	179.59	17.62	197.21	188.99	57.86	246.85	188.99	44.36	233.36
				TOYODA TSUSHO KAISHA	SFD 75-80/2	31.07.2006	LIBOR 6 MOS+.5%	114.25	18.05	132.30	114.25	34.98	149.23	114.25	26.82	141.07
				US EXIMBANK	SFD 55-78/2	31.07.2006	ECNSTB+.375%	518.28	158.49	676.77	518.28	192.83	711.11	518.28	147.85	666.14
			COMMERCIAL LOANS					-	-	-	-	-	-	89,232.77	-	89,232.77
				ULTRAFIN AG	ULTRAFIN AG	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	717.44	-	717.44
				BA ASIA LTD HK	BA ASIA LTD. HK	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	8,333.33	-	8,333.33
				BARCLAYS BANK MLA	BARCLAYS BANKK	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	0.43	-	0.43
				CENTURY BANK	CENTURY BANK	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	5,215.43	-	5,215.43
				CHASE  MANHATTAN	CHASE  MANHATTAN	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	33,088.00	-	33,088.00
				CHINA MACHINERY	C MACHINERY	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	7,511.55	-	7,511.55
				EXPORT DEVT CORP	EDC	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	171.91	-	171.91
				BANK INDOSUEZ	INDO-SUEZ	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	18,598.00	-	18,598.00
				METRO BANK	METRO BANK	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	509.09	-	509.09
				NATIONAL COMM BANK	NCB, JEDDAH	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	1,578.39	-	1,578.39
				NATIONAL COMM BANK	NCB JEDDAH	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	4,921.77	-	4,921.77
				BANQUE PARIBAS	NIDC-OTHER GUARANTEE	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	495.84	-	495.84
				SAMIA PRIVATE LTD	SAMIA PRIVATE LTD	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	514.53	-	514.53
				SECURITY PACIFIC BANK	SECURITY BANK	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	2,180.00	-	2,180.00
				TAKACHITO SHOJI CO LTD	TAKACHITO  SHUJI CO.	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	22.86	-	22.86
				VIBRATEX SERVICES	VIBRATEX SERVICES	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	974.20	-	974.20
				VICENTE R CHIUDIAN	VICENTE R. CHUIDIAN	UPON DEMAND	INTEREST FREE	-	-	-	-	-	-	4,400.00	-	4,400.00
GRAND TOTAL								86,311.89	19,631.46	105,433.18	89,142.45	19,014.83	108,157.28	176,995.63	14,740.18	191,735.80
Source: Bureau of the Treasury
FX rate used:
	BSP reference rate prevailing as at 27 December 2002.
LIBOR:
	2003 = 1.40%
	2004 = 2.50%