Additionally, during World War I, the US became the primary lender for many countries looking to buy dollar-denominated US bonds.

Source: https://investingnews.com/de-dollarization-impact/

Gross debt amounted to PHP247.7 billion, of which 16% are dollar-denominated and 5% unhedged.

Source: https://seekingalpha.com/article/4601324-pldt-inc-phi-q1-2023-earnings-call-transcript?source=feed_all_articles

Ricafort said fresh record highs for the country’s outstanding debt in the coming remain possible as the national government is set to issue US dollar-denominated or Euro-denominated retail bond issuances in the third quarter.

Source: https://businessmirror.com.ph/2023/06/01/phl-debt-hits-new-high-of-p13-911-trillion-at-end-april/

The U.S. dollar-denominated bonds of Adani Ports maturing in February 2031 led the losses, falling 3.59 cents to 67.58 cents.

Source: https://gazette.com/news/us-world/adani-loses-asias-richest-crown-as-stock-wipeout-reaches-86-billion/article_6acc52da-1759-5df5-ac7d-7a0ed1f18a26.html