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...
About P94,589 is every living Filipino’s share of the national government debt as of February, that is P20,000 more. The Bureau of the Treasury reported on Monday, March 29, that the outstanding debt stock of the national government now stood at P10.405 trillion in February, or additional P2.24...
The national government’s debt ratio soared following its record budget deficit incurred last year due to unprecedented borrowings for the country’s coronavirus response, data from the Department of Finance (DOF) revealed. Finance Undersecretary Gil S. Beltran said on Sunday, March 21, that the...
The government borrowed more foreign loans in 2020 to fund COVID-19 response, pushing the outstanding external debt to grow by 17.8 percent to $98.488 billion from $83.618 billion in 2019, based on Bangko Sentral ng Pilipinas (BSP) data. The country’s external debt as a ratio to GDP increased to...
