Domestic investors snapped up the government’s short-term debt papers this week, allowing the Marcos administration to raise an additional ₱25 billion at lower borrowing costs, as investors locked in yields ahead of further rate cuts. During the latest Treasury bills (T-bills) auction on Sept....
Nearly half a trillion pesos in total payments were slashed during the first seven months of 2025, with domestic lenders receiving nearly ₱600 billion less in principal payments compared to what they had received from the Marcos administration in 2024. Data from the Bureau of the Treasury (BTr)...
Just past midyear, the national government’s outstanding debt hit a fresh high of ₱17.56 trillion, surpassing the economic managers’ projected year-end level of ₱17.36 trillion. The latest data from the Bureau of the Treasury (BTr) released on Wednesday night, Sept. 3, showed that the...
The Marcos administration’s gross borrowings declined slightly to ₱1.757 trillion in the first seven months of the year, driven by a drop in domestic loans despite a more than 50 percent increase in foreign debt. Data from the Bureau of the Treasury (BTr) showed that the government’s debt as...
Japan-based debt watcher R&I’s fresh affirmation of the Philippines’ high investment-grade ‘A-’ credit rating has allowed the Marcos administration to raise a cumulative ₱35 billion through bond sales at lower borrowing costs. During the auction of three-year and 25-year Treasury bonds...
After raising over half a trillion pesos from retail treasury bonds (RTBs) last week, the Marcos administration successfully borrowed ₱50 billion from separate sales of debt securities this week. During the sale of 10-year treasury bonds (T-bonds) on Tuesday, Aug. 19, the Bureau of the Treasury...
As the national government’s (NG) outstanding debt continued to breach records in the second quarter of 2025, the debt-to-gross domestic product (GDP) ratio climbed to a 20-year high of 63.1 percent—further away from the Marcos administration’s target. Finance Secretary Ralph G. Recto,...
While the Marcos government plans to make bulk borrowings via sales of jumbo government debt papers a regular practice, next year’s total borrowings could only increase by around ₱100 billion. According to National Treasurer Sharon Almanza, this marginal increase comes alongside an 80:20...
Domestic investors locked in “sweet spot” medium-term bonds amid persistent external uncertainties, allowing the government to raise an initial ₱210 billion from retail treasury bonds (RTBs) on Tuesday, Aug. 5, as the offer period opened for local investors. During the launch of GBonds or...
Over half a trillion pesos in total payments were slashed during the first six months of 2025, with domestic lenders receiving nearly ₱600 billion less in principal payments compared to what they had received from the Marcos administration in 2024. Data from the Bureau of the Treasury (BTr)...
Global trade jitters and the impending expiry of US tariff pauses failed to deter investors, as the Marcos administration’s debt sales saw robust demand, allowing the Bureau of the Treasury to raise ₱28.4 billion and continue its four-week trend of lower borrowing costs. During the sale of...
Despite the single-digit drop in domestic borrowings, the Marcos administration’s foreign debt rose by more than 50 percent in the first six months of the year, leading to a higher gross borrowing of ₱1.59 trillion from ₱1.57 trillion a year earlier. According to the Bureau of the Treasury...
