A Philippine-based climate justice advocacy group on Friday urged the governments of the United States, China and Japan to immediately end public and private funding for overseas coal projects and other fossil fuels. Asian Peoples’ Movement on Debt and Development (APMDD) The US, Japan, and China...
Government debt snowballed to a record high of P11.61 trillion as of July this year. Peso bills Based on the Bureau of the Treasury’s report on Tuesday, Aug. 31, the public debt increased 26.7 percent from P9.164 trillion in the same month last year, or an addition of P2.446 trillion in the past...
The national government plans to spend more than P1 trillion to settle some of its liabilities next year, but at the same time borrow over P2 trillion, data from the Department of Budget and Management (DBM) revealed. Under the proposed budget plan for 2022 submitted to Congress, the national...
Senate Minority Leader Franklin Drilon has urged state economic managers to reconsider allocating huge funds for the security sector for next year amid the “skyrocketing” national debt and a growing budget deficit. Drilon said he is dismayed at the negative growth in the social services sector...
Government debt inched up anew in June this year due to higher borrowings from foreign creditors. Data from the Bureau of the Treasury showed that the national government’s outstanding debt stock stood at P11.166 trillion as of June, up by P94.9 billion from P11.071 trillion in the previous...
The national government’s debt payments increased by half in May this year as both interest expense and amortization jumped by double-digits, data from the Bureau of the Treasury showed. Debt servicing of the Duterte administration accelerated by 53 percent during the month to P37.8 billion from...
Opposition Senator Leila de Lima on Wednesday said the public should keep tabs on the Duterte administration’s “debt spree” as the Philippines reached a high record of P11-trillion in borrowings. “With a record-breaking P11.07-trillion in debt, the Duterte administraiton continues to be on...
The Land Bank of the Philippines has certified that the local government of Paranaque City is now debt-free. Mayor Edwin Olivarez thanked City Treasurer Anthony Pulmano for using the “prudent spending and good governance” formula that enabled the city government to pay off its loan to Land Bank...
House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate on Tuesday, July 6 assailed as “nonsensical” Malacanang’s claim that government lacks money to grant cash assistance to Filipinos reeling from the devastating effects of the 2019 coronavirus disease (COVID-19) pandemic....
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....
