Locally arranged outstanding debt down 2% in 2022; first fall in 4 years

THE total outstanding debt arranged by financial institutions in Singapore dropped by 2 per cent to S$512 billion in 2022, down from S$523 billion the year before.

The decline marks a reversal in the steady growth of Singapore’s debt market since 2018.

The Monetary Authority of Singapore (MAS), which published the figures in its annual Singapore Corporate Debt Market report on Monday (Oct 16), said the decrease was in line with the slowdown in bond market activity.