TABLE D. 7
OUTSTANDING FOREIGN DEBT FROM LIABILITIES ASSUMED BY THE NATIONAL GOVERNMENT, AS OF YEAR END 2002-2004
In Thousand US Dollars
  CREDITOR REFERENCE DMFAS ID CURR 2002 2003 2004
OUTSTANDING     OUTSTANDING     OUTSTANDING     OUTSTANDING
AT THE ADDED PRINCIPAL PAID 01-JAN-02 31-DEC-02 AT THE ADDED PRINCIPAL PAID 01-JAN-02 31-DEC-02 AT THE ADDED PRINCIPAL PAID 01-JAN-02 31-DEC-02 AT THE
BEGINNING BORROWINGS AMORTIZATION BEGINNING BORROWINGS AMORTIZATION BEGINNING BORROWINGS AMORTIZATION END
                                 
DEVELOPMENT BANK OF THE PHILIPPINES              244,918.38                   -             44,744.88        200,173.50                    -             44,788.93       155,384.57              -           44,269.73        111,114.83
                           
  REAL ACCOUNTS               36,540.38                   -               6,527.57          30,012.80                    -              6,571.62         23,441.18              -             6,571.62          16,869.56
                           
  BILATERAL LOANS               36,540.38                   -               6,527.57          30,012.80                    -              6,571.62         23,441.18              -             6,571.62          16,869.56
                           
  BANCO EXTERIOR DE ESPANA BEE$1.7M/4 92118005 USD              452.30                   -                   82.24              370.06                    -                   82.24              287.82              -                 82.24              205.59
  DRESDNER BANK TEXFIBER/.4 92121002 DEM              121.04                   -                   22.01                99.03                    -                   22.01               77.03              -                 22.01                55.02
  INT'L BANK FUER AUSSENHANDEL IBFA-PC4 92122005 ATS           1,292.63                   -                 235.02           1,057.60                    -                 235.02              822.58              -                235.02              587.56
  JAPAN EXIMBANK JAP EXIM PC4 92119005 JPY           8,495.57                   -               1,544.65           6,950.92                    -              1,544.65           5,406.27              -             1,544.65           3,861.62
  MIDLAND BK PLC MIDLAND PCIV 92120002 GBP              215.79                   -                   39.23              176.56                    -                   39.23              137.32              -                 39.23                98.09
  MINADANAO PORTLAND CEMENT CORP MPCC-PC4 92112003 USD              231.15                   -                   11.56              219.60                    -                   23.12              196.48              -                 23.12              173.37
  PRIVATE EXPORT FUNDING CORP PEFCO/PCIV 92110002 USD              231.88                   -                   42.16              189.72                    -                   42.16              147.56              -                 42.16              105.40
  BANCO EXTERIOR DE ESPANA BEE-$81M/4 92116005 USD         20,012.62                   -               3,638.66          16,373.96                    -              3,638.66         12,735.30              -             3,638.66           9,096.65
  BANCO EXTERIOR DE ESPANA BEE $7.8M/4 92117005 USD           2,068.16                   -                 376.03           1,692.13                    -                 376.03           1,316.10              -                376.03              940.07
  MANTRUST BANK, LONDON MANTRUSTPC4 92115005 USD           2,459.76                   -                 447.23           2,012.53                    -                 447.23           1,565.30              -                447.23           1,118.07
  US EXIMBANK US-EXIM4 92111003 USD              309.62                   -                   56.29              253.32                    -                   56.29              197.03              -                 56.29              140.73
  USAID VRESCO4 92113005 USD              402.26                   -                   20.11              382.15                    -                   40.23              341.92              -                 40.23              301.70
  USAID MORESCOPC4 92114005 USD              247.60                   -                   12.38              235.22                    -                   24.76              210.46              -                 24.76              185.70
                           
  CONTINGENT ACCOUNTS              208,378.01                   -             38,217.31        170,160.69                    -             38,217.31       131,943.38              -           37,698.11          94,245.27
                           
  BILATERAL LOANS              207,339.60                   -             37,698.11        169,641.49                    -             37,698.11       131,943.38              -           37,698.11          94,245.27
                           
  BANCO EXT DE ESPANA BEEPC4 92211004 ESP         34,262.65                   -               6,229.57          28,033.08                    -              6,229.57         21,803.51              -             6,229.57          15,573.93
  BANQUE BENELUX BENELUX4 92210002 BEF           2,511.59                   -                 456.65           2,054.94                    -                 456.65           1,598.29              -                456.65           1,141.63
  BANQUE FRANCAISE D C BFCE4 92206003 FRF           1,617.34                   -                 294.06           1,323.28                    -                 294.06           1,029.21              -                294.06              735.15
  BANQUE INDOSUEZ MLA SUEZ/PC4 92208002 FRF                13.47                   -                     2.45                11.02                    -                     2.45                 8.57              -                   2.45                  6.12
  BANQUE FRANCAISE DU COMMERCE EXT PHILFILM4 92207002 FRF              154.75                   -                   28.14              126.61                    -                   28.14               98.48              -                 28.14                70.34
  DRESDNER BANK STA INESPC4 92204005 DEM           1,184.41                   -                 215.35              969.06                    -                 215.35              753.71              -                215.35              538.37
  MARUBENI CORP PPMI PC4 92201005 USD           8,835.82                   -               1,606.51           7,229.31                    -              1,606.51           5,622.79              -             1,606.51           4,016.28
  MARUBENI CORP PASAR PC4 92203005 JPY        110,643.59                   -             20,117.02          90,526.58                    -             20,117.02         70,409.56              -           20,117.02          50,292.54
  MITSUBISHI CORP MHI/PC4 92202005 JPY         32,555.46                   -               5,919.18          26,636.29                    -              5,919.18         20,717.11              -             5,919.18          14,797.94
  PLATT SACO SACOPC4 92200005 USD              960.56                   -                 174.65              785.92                    -                 174.65              611.27              -                174.65              436.62
  SOCIETE GENERALE DE BANQUE SOC.GEN/PC4 92209004 BEF         14,599.96                   -               2,654.54          11,945.42                    -              2,654.54           9,290.88              -             2,654.54           6,636.34
                           
  COMMERCIAL LOANS                 1,038.40                   -                 519.20              519.20                    -                 519.20                    -                -                      -                       -  
                           
  AMARICAN EXPRESS BANK DBP3800 92221000 DEM                35.38                   -                   17.69                17.69                    -                   17.69                    -                -                      -                       -  
  AMARICAN EXPRESS BANK DBP4000 92222000 DEM                35.38                   -                   17.69                17.69                    -                   17.69                    -                -                      -                       -  
  AMARICAN EXPRESS BANK DBP4200 92223000 DEM                35.38                   -                   17.69                17.69                    -                   17.69                    -                -                      -                       -  
  SECURITY PACIFIC BANK SECPACIFIC 92220000 USD              932.26                   -                 466.13              466.13                    -                 466.13                    -                -                      -                       -  
                           
                           
NATIONAL DEVELOPMENT COMPANY               12,677.29                   -               2,378.41          10,298.88                    -              2,461.56           7,837.32              -             2,461.56           5,375.76
                           
  REAL ACCOUNTS                 7,960.09                   -               1,520.74           6,439.35                    -              1,603.88           4,835.47              -             1,603.89           3,231.58
                           
  BILATERAL LOANS                 1,662.93                   -                   83.15           1,579.79                    -                 166.29           1,413.49              -                166.29           1,247.20
                           
  INSTITUTO DE CREDITO OFFICIAL ICO\PC4 95110004 USD           1,060.34                   -                   53.02           1,007.33                    -                 106.03              901.29              -                106.03              795.26
  INSTITUTO DE CREDITO OFFICIAL ICO/PC4 95111004 USD              602.59                   -                   30.13              572.46                    -                   60.26              512.20              -                 60.26              451.94
                           
  COMMERCIAL LOANS                 6,297.16                   -               1,437.59           4,859.57                    -              1,437.59           3,421.98              -             1,437.59           1,984.39
                           
  BELGIAN FA BEL\FA\1ST 95107001 BEF              385.97                   -                   32.16              353.81                    -                   32.16              321.64              -                 32.16              289.48
  BELGIAN FA BEL\FA\2ND 95107002 BEF              418.13                   -                   32.16              385.97                    -                   32.16              353.81              -                 32.16              321.64
  INSTITUTO DE CREDITO OFFICIAL ICO\1 TRA 95104000 USD           1,373.26                   -                 457.75              915.51                    -                 457.75              457.76              -                457.76                     -  
  INSTITUTO DE CREDITO OFFICIAL ICO\2ND 95105000 USD           1,831.02                   -                 457.75           1,373.26                    -                 457.75              915.51              -                457.75              457.76
  INSTITUTO DE CREDITO OFFICIAL ICO\ORG\3RD TRA 95106000 USD           2,288.77                   -                 457.75           1,831.02                    -                 457.75           1,373.26              -                457.75              915.51
                           
  CONTINGENT ACCOUNTS                 4,717.20                   -                 857.67           3,859.52                    -                 857.67           3,001.85              -                857.67           2,144.18
                           
  BILATERAL LOANS                 4,717.20                   -                 857.67           3,859.52                    -                 857.67           3,001.85              -                857.67           2,144.18
                           
  DAVY MCKEE DAVY\PC4 95222002 USD                82.67                   -                   15.03                67.64                    -                   15.03               52.61              -                 15.03                37.58
  MARUBENI CORP[ MARUBEN4 95221004 JPY           1,420.65                   -                 258.30           1,162.35                    -                 258.30              904.05              -                258.30              645.75
  SOCIETE GENERALE DE BANQUE SOCGENPC4 95220004 BEF           3,213.88                   -                 584.34           2,629.54                    -                 584.34           2,045.19              -                584.34           1,460.85
                           
                           
NPC/PNPP              176,773.98                   -             32,140.72        144,633.26                    -             32,140.72       112,492.53              -           32,140.72          80,351.81
                           
  REAL ACCOUNTS              176,773.98                   -             32,140.72        144,633.26                    -             32,140.72       112,492.53              -           32,140.72          80,351.81
                           
  BILATERAL LOANS              176,773.98                   -             32,140.72        144,633.26                    -             32,140.72       112,492.53              -           32,140.72          80,351.81
                           
  AMARICAN EXPRESS BANK AMEX A&B PC IV 93100009 USD         25,920.05                   -               4,712.74          21,207.31                    -              4,712.74         16,494.58              -             4,712.74          11,781.84
  BANK OF TOKYO BOT PC IV 93101005 USD         11,122.64                   -               2,022.30           9,100.34                    -              2,022.30           7,078.04              -             2,022.30           5,055.75
  MITSUI AND CO MTSUI/CO PCIV 93104005 JPY           2,725.25                   -                 495.50           2,229.75                    -                 495.50           1,734.25              -                495.50           1,238.75
  UNION BANK OF SWITZERLAND UBS PC IV 93103005 USD         18,086.11                   -               3,288.38          14,797.73                    -              3,288.38         11,509.34              -             3,288.38           8,220.96
  US EXIMBANK EXIM 6122 PCIV 93102005 USD        118,919.92                   -             21,621.80          97,298.12                    -             21,621.80         75,676.31              -           21,621.80          54,054.51
                           
                           
PHILIPPINE AIRLINES                 1,295.61                   -                 235.57           1,060.05                    -                 235.57              824.48              -                235.57              588.92
                           
  REAL ACCOUNTS                 1,295.61                   -                 235.57           1,060.05                    -                 235.57              824.48              -                235.57              588.92
                           
  BILATERAL LOANS                 1,295.61                   -                 235.57           1,060.05                    -                 235.57              824.48              -                235.57              588.92
                           
  BANQUE FRANCAISE DU COMMERCE EXT BFCE\PCIV/1 96121005 FRF              319.34                   -                   58.06              261.27                    -                   58.06              203.21              -                 58.06              145.15
  BANQUE FRANCAISE DU COMMERCE EXT BFCE\PCIV/2 96122005 USD              974.17                   -                 177.12              797.05                    -                 177.12              619.93              -                177.12              442.80
  US EXIMBANK PAL/US EXIM PC IV 96123005 USD                 2.11                   -                     0.38                  1.73                    -                     0.38                 1.34              -                   0.38                  0.96
                           
                           
PHILGUARANTEE                 5,416.19                   -                 887.54           4,528.65                    -                 887.54           3,641.11              -             1,604.12           2,036.99
                           
  CONTINGENT ACCOUNTS                 5,416.19                   -                 887.54           4,528.65                    -                 887.54           3,641.11              -             1,604.12           2,036.99
                           
  BILATERAL LOANS                 4,481.37                   -                 814.79           3,666.57                    -                 814.79           2,851.78              -                814.79           2,036.98
                           
  FIRST NAT'L BANK OF CHICAGO FNBC\PCIV 94221003 USD           4,405.47                   -                 800.99           3,604.47                    -                 800.99           2,803.48              -                800.99           2,002.48
  NORTHWEST BK OF MINNESOTA US-EXIM\4 94220004 USD                75.90                   -                   13.80                62.10                    -                   13.80               48.30              -                 13.80                34.50
                           
  COMMERCIAL LOANS                    934.82                   -                   72.74              862.08                    -                   72.74              789.33              -                789.33                  0.00
                           
  AETNA UNIVERSAL AETNA U 94202000 USD                 9.07                   -                     4.54                  4.54                    -                     4.54                    -                -                      -                       -  
  FIRST NAT'L BANK OF CHICAGO BUMIPUTR 94212000 USD              118.27                   -                   59.13                59.13                    -                   59.13                    -                -                      -                       -  
  AMANAH CHASE BANK PNCC/AMANAH 94201000 USD                18.15                   -                     9.07                  9.07                    -                     9.07                    -                -                      -                       -  
  SAUDI BANK SAUDI IBk 94200000 SAR              789.33                   -                        -                789.33                    -                        -                789.33              -                789.33                  0.00
                           
                           
PHILIPPINE NATIONAL BANK              130,649.79                   -               8,109.85        122,539.95                    -              8,628.13       113,911.81              -           96,283.93          17,627.89
                           
  REAL ACCOUNTS                 4,731.19                   -               1,863.75           2,867.45                    -              1,863.75           1,003.70              -                286.77              716.93
                           
  BILATERAL LOANS                 1,577.24                   -                 286.77           1,290.47                    -                 286.77           1,003.70              -                286.77              716.93
                           
  FINNISH EXPORT CREDIT FINNISH EXPORT CR 91190005 USD           1,577.24                   -                 286.77           1,290.47                    -                 286.77           1,003.70              -                286.77              716.93
                           
  COMMERCIAL LOANS                 3,153.96                   -               1,576.98           1,576.98                    -              1,576.98                    -                -                      -                       -  
                           
  BANK DAGANG NEGARA PNB 1-1-13 91104000 USD           2,300.00                   -               1,150.00           1,150.00                    -              1,150.00                    -                -                      -                       -  
  UNIDENMARK ASIA LTD PNB3-2-003 91130000 USD              258.82                   -                 129.41              129.41                    -                 129.41                    -                -                      -                       -  
  UNIDENMARK ASIA LTD PNB 3-2-103 91133000 USD              420.59                   -                 210.29              210.29                    -                 210.29                    -                -                      -                       -  
  WELLS FARGO BANK PNB 1-2-008 91123000 USD              174.55                   -                   87.27                87.27                    -                   87.27                    -                -                      -                       -  
                           
  CONTINGENT ACCOUNTS              125,918.60                   -               6,246.10        119,672.50                    -              6,764.38       112,908.12              -           95,997.16          16,910.96
                           
  BILATERAL LOANS               36,685.83                   -               6,246.10          30,439.73                    -              6,764.38         23,675.34              -             6,764.38          16,910.96
                           
  CREDIT LYONNAIS SFM 44-80/3 91323005 FRF              542.32                   -                   98.60              443.72                    -                   98.60              345.12              -                 98.60              246.51
  MARUBENI CORP SFD 40-77/37-77 91326005 JPY           5,253.30                   -                 955.15           4,298.16                    -                 955.15           3,343.01              -                955.15           2,387.87
  MARUBENI CORP SFD 28-77/26-77/2 91327004 JPY           2,699.91                   -                 490.89           2,209.02                    -                 490.89           1,718.12              -                490.89           1,227.23
  MARUBENI CORP SFD 95-75/92-75/1 91328005 JPY           7,825.92                   -               1,422.90           6,403.03                    -              1,422.90           4,980.13              -             1,422.90           3,557.24
  MARUBENI CORP SFD 42-74/2 91329002 JPY           4,897.08                   -                 890.38           4,006.70                    -                 890.38           3,116.32              -                890.38           2,225.94
  MARUBENI CORP SFD 31-74/2 91330002 JPY           4,597.11                   -                 835.84           3,761.28                    -                 835.84           2,925.44              -                835.84           2,089.60
  MARUBENI CORP 39-81/38-81 91331009 USD           4,146.37                   -                 753.88           3,392.48                    -                 753.88           2,638.60              -                753.88           1,884.71
  MIDLAND BANK PLC SFM 113-75/2 91322002 GBP           1,296.26                   -                 235.68           1,060.58                    -                 235.68              824.89              -                235.68              589.21
  MORGAN GRENFELL & CO. SFM 92-65/2 91334002 USD              145.97                   -                   26.54              119.43                    -                   26.54               92.89              -                 26.54                66.35
  MORGAN GRENFELL & CO. SFM 92-66/2 91335002 USD              249.96                   -                   45.45              204.51                    -                   45.45              159.06              -                 45.45              113.62
  SUMITOMO CORP SFD 07-83/3 91324003 JPY           1,031.49                   -                 187.54              843.95                    -                 187.54              656.40              -                187.54              468.86
  TOYO CORPORATION SFD 45-78/2 91325002 JPY           1,039.47                   -                 188.99              850.47                    -                 188.99              661.48              -                188.99              472.48
  TOYODA TSUSHO KAISHA SFD 75-80/2 91332002 USD              628.39                   -                 114.25              514.14                    -                 114.25              399.88              -                114.25              285.63
  US EXIMBANK SFD 55-78/2 91333002 USD           2,332.28                   -                        -             2,332.28                    -                 518.28           1,814.00              -                518.28           1,295.71
                           
  COMMERCIAL LOANS               89,232.77                   -                        -            89,232.77                    -                        -           89,232.77              -           89,232.77                     -  
                           
  ULTRAFIN AG ULTRAFIN AG 91288000 USD              717.44                   -                        -                717.44                    -                        -                717.44              -                717.44                     -  
  BA ASIA LTD HK BA ASIA LTD. HK 91294000 USD           8,333.33                   -                        -             8,333.33                    -                        -             8,333.33              -             8,333.33                     -  
  BARCLAYS BANK MLA BARCLAYS BANKK 91285000 GBP                 0.43                   -                        -                    0.43                    -                        -                   0.43              -                   0.43                     -  
  CENTURY BANK CENTURY BANK 91293000 USD           5,215.43                   -                        -             5,215.43                    -                        -             5,215.43              -             5,215.43                     -  
  CHASE  MANHATTAN CHASE  MANHATTAN 91290000 USD         33,088.00                   -                        -            33,088.00                    -                        -           33,088.00              -           33,088.00                     -  
  CHINA MACHINERY C MACHINERY 91284000 USD           7,511.55                   -                        -             7,511.55                    -                        -             7,511.55              -             7,511.55                     -  
  EXPORT DEVT CORP EDC 91287000 CAD              171.91                   -                        -                171.91                    -                        -                171.91              -                171.91                     -  
   BANK INDOSUEZ INDO-SUEZ 91291000 USD         18,598.00                   -                        -            18,598.00                    -                        -           18,598.00              -           18,598.00                     -  
  METRO BANK METRO BANK 91292000 USD              509.09                   -                        -                509.09                    -                        -                509.09              -                509.09                     -  
  NATIONAL COMM BANK NCB, JEDDAH 91303000 SAR           1,578.39                   -                        -             1,578.39                    -                        -             1,578.39              -             1,578.39                     -  
  NATIONAL COMM BANK NCB JEDDAH 91306000 SAR           4,921.77                   -                        -             4,921.77                    -                        -             4,921.77              -             4,921.77                     -  
  BANQUE PARIBAS NIDC-OTHER GUARANTEE 91286000 FRF              495.84                   -                        -                495.84                    -                        -                495.84              -                495.84                     -  
  SAMIA PRIVATE LTD SAMIA PRIVATE LTD 91300000 USD              514.53                   -                        -                514.53                    -                        -                514.53              -                514.53                     -  
  SECURITY PACIFIC BANK SECURITY BANK 91289000 USD           2,180.00                   -                        -             2,180.00                    -                        -             2,180.00              -             2,180.00                     -  
  TAKACHITO SHOJI CO LTD TAKACHITO  SHUJI CO. 91297000 JPY                22.86                   -                        -                  22.86                    -                        -                 22.86              -                 22.86                     -  
  VIBRATEX SERVICES VIBRATEX SERVICES 91298000 USD              974.20                   -                        -                974.20                    -                        -                974.20              -                974.20                     -  
  VICENTE R CHIUDIAN VICENTE R. CHUIDIAN 91302000 USD           4,400.00                   -                        -             4,400.00                    -                        -             4,400.00              -             4,400.00                     -  
                           
GRAND TOTAL              571,731.25                   -             88,496.97        483,234.28                    -             89,142.45       394,091.83              -         176,995.63        217,096.20
                                 
                                 
BSP reference rate prevailing as at 27 December 2002.