The next elected Philippine president will pay the loans secured by the Duterte administration for the country’s pandemic response, the government’s chief economic manager said on Tuesday, Feb. 22. “Looking realistically our situation, we have to pay for COVID. I mean, we cannot just have...
The Philippines incurred more debt last year, hitting nearly P12 trillion. The Bureau of the Treasury reported on Tuesday, Feb. 1, that the national government’s outstanding financial obligations rose 20 percent to P11.728 trillion at end-December from P9.795 trillion in the same period in 2020....
Debt servicing by the Philippine government jumped 203 percent in November due to higher interest and principal payments, data from the Bureau of the Treasury revealed. The national government's debt payments hit P81.34 billion in November last year, that is 203 percent more than the P26.79 billion...
The Philippines managed to cut new borrowings in November last year due to significantly lower financing from domestic creditors. Data from the Bureau of the Treasury showed that the national government’s gross borrowings reached P26.69 billion in November, down by 78 percent compared with...
The national government’s debt declined last month due to repayments and favorable foreign exchange, the Bureau of the Treasury reported on Wednesday, Dec. 29. The total outstanding debt of the government slightly went down by P39.7 billion or 0.3 percent to P11.931 trillion in November from...
Hybrid rice seeds producer-SL Agritech Corp. (SLAC) has raised nearly P2 billion through another commercial paper issuance as the company gears for local and overseas expansion. On Wednesday, Dec. 20, SLAC formally listed its P1.86 billion worth of short-term commercial papers at the country’s...
Senatorial aspirant and human rights lawyer Chel Diokno on Monday, Dec. 6, reckoned that the continued rise in the Philippines’ outstanding debt stock is a cause for concern. Human rights lawyer Chel Diokno Diokno noted that the government debt of almost P12 trillion is 10 times higher than the...
The Philippine government’s outstanding debt nears the P12-trillion mark in October this year due to higher domestic borrowings, the Bureau of the Treasury reported on Wednesday, Dec. 1. As of October 2021, the national government’s total debt reached P11.971 trillion, up by P54.48 billion...
Debt payments by the Philippine government were nearing the P1 trillion mark in the first nine-months of the year due to higher interest and principal settlements. Data from the Bureau of the Treasury showed that the national government's debt servicing reached P963.86 billion in January to...
The next Department of Finance (DOF) head needs to keep a close eye on four pressing issues, such as public debt, inflation, exacerbated inequality and climate change, President Duterte’s chief economic manager said. Eight months before the term of the Duterte administration ends, Finance...
Opposition Rep. Ferdinand Gaite (Bayan Muna Partylist) on Tuesday, Nov. 2 called on the Duterte administration to repeal the automatic debt servicing law that the late former President Ferdinand E. Marcos has decreed. Rep. Ferdinand Gaite-Bayan Muna Gaite said government should realize that...
Benchmark interest rates increased across the board at Tuesday’s auction of short-term government debt papers, as investors wait for the latest inflation report and shift in policy at US Federal Reserve. The yield on the 91-day Treasury bill, which banks use in pricing their loans, went up to...
