The government has the capacity to settle its financial obligations after the country's debt reached more than P11 trillion amid efforts to mitigate the impact of the pandemic, Malacañang said Tuesday. Presidential Spokesman Harry Roque (File photo/Malacañang) According to Presidential spokesman...
The Philippines breached the P11 trillion debt level in May this year as loans made by the national government amid the pandemic continued to grow. The Bureau of the Treasury reported on Monday, July 5, that the government's outstanding financial obligations rose 24 percent to P11.071 trillion in...
The Philippines’ external debt increased by 19.19 percent year-on-year or by $15.63 billion as of end March to $97.047 billion from $81.421 billion as the government accumulated foreign loans for anti-pandemic response and budget financing. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E....
The next administration is going to face a hefty debt burden plus a shrinking economy and a rising unemployment rate and hunger due to the mismanagement of the COVID-19 pandemic, Senate Minority Leader Franklin Drilon said on Wednesday. Drilon blamed this mismanagement on the Department of Health...
President Duterte’s chief economic manager justified the multi-trillion peso borrowings for the year, citing the national government needed to rely on financing to the bridge the widening gap between revenues and expenditures. Finance Secretary Carlos G. Dominguez III said on Tuesday, June 15,...
The Philippines’ next leader should take into account the overwhelming problems hounding the country amid the coronavirus (COVID-19) crisis and must be prepared to solve these, Senator Panfilo Lacson said on Sunday. More than deciding to file his or her candidacy and get elected, Lacson said the...
The unprecedented government borrowings to offset the impact of the pandemic-induced recession have driven public debt to nearly P11 trillion in April this year. Based on the Bureau of the Treasury report on Thursday, June 3, the national government’s debt burden zoomed 28 percent to P10.991...
A huge debt brought by addiction to online sabong or cockfighting prompted a Quezon City cop to rob a courier company in Bulacan province, police bared Tuesday. Lt. Col. Omar Fiel, chief of police of San Ildefonso town, made the revelation following the arrest of 22-year-old Corporal Moises Yango...
The country’s external debt service burden went up by 24.64 percent to $2.686 billion as of end-February from same time last year of $2.155 billion, according to Bangko Sentral ng Pilipinas (BSP) data. Principal payments increased by 37.46 percent to $2.227 billion from $1.620 billion. Interest...
The Duterte administration’s debt payments went up by more than half in the first three-months of the year owing to higher amortization, data from the Bureau of the Treasury revealed over the weekend. Based on the Treasury report, the total debt service of the national government reached P521.5...
The Philippines considers China a "good friend" and would not resort to war over the dispute in the West Philippine Sea, President Duterte declared Wednesday. President Rodrigo Duterte delivers a televised address on April 28, 2021 (Malacañang) In a televised address, the President admitted that...
Central banks around the world should have more focus on resolving the debt problems of both businesses and households resulting from the COVID-19 pandemic, according to a Bangko Sentral ng Pilipinas (BSP) official. “COVID is a heavy cost to society but, in the financial markets, debt exposures...
