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Gov’t external debt stock eased further to P1.88T in Feb.


The government’s external debt stock eased further to P1.88 trillion as of end-February despite a weakening peso.

Data from the Bureau of Treasury showed that foreign borrowings went down to 35 percent of total outstanding debt, which further decreased to P5.32 trillion.

Foreign borrowings decreased by P46 billion, or 2.4 percent, from the P1.92 trillion the government owed to overseas lenders in January.

Payments exceeded the inflow of new borrowings by P44 billion, which led to the decrease in foreign debt.

Also, the depreciation of the euro and the Japanese yen against the US dollar shaved off P7 billion from the debt stock.

Aside from loans extended by multilateral lenders and official aid from foreign governments, the Philippines also borrowed abroad by issuing bonds denominated in foreign currencies apart from the dollar.

However, the depreciation of the local currency against the greenback added P5 billion to the value of outstanding debt in peso terms, partially dampening the effects of net payments and the weakening of the euro and yen.

In February, government debt paper pegged in dollars amounted to an equivalent of P957 billion, while yen and euro loans stood at P44 billion and P27 billion, respectively.

As for domestic borrowings, this represented 65 percent of the debt stock at P3.45 trillion.

In February, local debt increased by P37 billion, or 1.1 percent, from the P3.41 trillion posted in January.

The increase was attributed to the government’s issuance of more local debt paper compared to the volume that was redeemed.

At P5.32 trillion, the government’s debt stock means that each Filipino owes P55,469, based on the latest population estimate of 96 million.

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Tags: Business , Debt , External Debt , Government

  • http://joboni96.myopenid.com/ joboni96

    kung hindi ba naman hunghang at kolonisadong utak
    mga doctorated financial leaders natin
    nabayaran na natin sana mga utang natin

    $84B (foreign reserves) – $61.7B (foreign debt) = $22 billion left foreign reserves
    still enough foreign reserves

    this will result to P367 billion more for government projects
    coming from the automatic 20% debt payments in the national budget

    yan ding P367 billion na iyan
    kaya takot at nakikinabang ang mga doctorated financial leaders
    sa mga foreign banks and capitalists

    mahina rin ang mga senador at congressmen natin

    kung naging project yang P367 billion na iyan every year
    at 30% commission rate

    that’s an additional more than P110 billion commission per year
    more chicks, more lands, more mansions, more businesses etc

    how about it mga honorable sirs
    lets retire our foreign debt

    • 1voxPopuli

      ikaw na ang magaling! daig mo na ang top central bank governor of 2012, best finance secretary of 2012.

      reserve is reserve, its not an extra money to pay-off debt. our external debt is going down, and you dont pay them off at one go! kaya madaming pinoy walang ipon, nakakita lang ng extrang pera sa banko gusto agad mautilize.

      • http://joboni96.myopenid.com/ joboni96

        the miseducated colonized mind
        like the doctorated financial leaders

        one time
        take it from the pro pilipino point of view

        it’ll set you free

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