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Manila Bulletin devider Business devider Gov't to borrow less locally in December

Gov't to borrow less locally in December

Published Nov 24, 2022 02:08 pm

Domestic borrowing program of the Marcos administration for December dropped due to fewer workweeks during holiday season.

Based on the Treasury advisory on Thursday, Nov. 24, the December financing plan of the Bureau of the Treasury declined by 32 percent to P135 billion from P215 billion in the previous month.

The bureau indicated that it will sell P30 billion worth of Treasury bills (T-bills) and P105 billion in Treasury bonds (T-bonds) next month.

The Treasury will still hold a weekly auction for T-bills and T-bonds, offering P5 billion worth of each 91-, 182-day and 364-day long-term IOUs every Monday and issue them on Dec. 4 and 14.

Moreover, the agency will issue P35 billion worth of three-, five-, 12-, and 20-year T-bonds on Nov. 1, 9 and 15, respectively.

Earlier, Finance Secretary Benjamin E. Diokno said the government will continue borrowing mostly from the domestic debt markets under the Marcos administration.

For 2022, the government aims to raise P2.2 trillion to enable the economy’s strong and resilient growth, Diokno said.

“The Marcos administration plans to continue this borrowing mix by obtaining 75 percent or around P1.65 trillion from domestic markets to insulate the country from foreign exchange volatilities due to ongoing global uncertainties,” Diokno said.

Related Tags

T-bill government borrowings Treasury bill treasury bond T-bond Bureau of the Treasury
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