Manila: Economy – National govt debt rises to P6.44T
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The national government’s outstanding debts increased by a little over P12 billion in September, the Treasury bureau reported on Friday, bringing the year to date tally to P6.44 trillion.
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Specifically, securities offerings during the month added P12.37 billion – up 0.2 percent from August — to the debt tally, which the bureau said more than offset revaluation adjustments to foreign currency-denominated debt.
The national government’s debt has increased by 5.81 percent or P353.8 billion since the start of the year, the bureau added.
Domestic debt accounted for bulk of the end-September tally at P4.18 billion, P36.8 billion more compared to the previous month.
The Treasury bureau attributed the increase to the issuance of P36.96 billion in 7- and 10-year Treasury bonds, which was tempered by a stronger peso to the tune of P160 million.
Year-to-date, domestic debt has increased by P254 trillion or 6.5 percent.
On the other hand, external debt fell by 1.1 percent or P24.43 billion from the previous month to P2.25 trillion as of end-September.
“The reduction in the level of external debt was a combined effect of the stronger peso and appreciation of third-currencies against the US dollar amounting to P15.19 billion and P8.83 billion, respectively, adding to net repayments of P410 trillion,” the Treasury bureau said.
External debt has increased by 4.6 percent or P99.4 billion so far this year, it added.
Total guaranteed obligations, meanwhile, dropped by P8.48 billion or 1.7 percent from August to P489.06 billion.
“The decline in guarantees was due to the combined effect of peso appreciation amounting to P1.96 billion, the effect of third currency revaluation on government guarantees amounting to P4.04 billion and net repayments on both domestic and external guarantees amounting to P290 million and P2.19 billion, respectively,” the Treasury bureau said.
Year-to-date, guarantees have gone down by P24.61 billion or 4.8 percent.
Courtesy: The Manila Times | BY ANGELICA BALLESTEROS, TMT ON
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