Close  

Gov’t debt stock lower at end-Oct., but still at P6T level

By: - Reporter / @bendeveraINQ
/ 01:25 AM December 08, 2016

The government’s outstanding debt stayed at the P6-trillion level as of the end of the first 10 months, even as it eased from the peak posted in September, partly due to a weaker peso.

In a statement, the Bureau of the Treasury said the government’s end-October liabilities amounted P6.069 trillion, down from P6.087 trillion a month ago.

ADVERTISEMENT

The month-on-month decline was attributed by the Treasury to “currency adjustments and net repayment of external debt.”

But year-on-year, the end-October figure was up 1.9 percent from P5.958 trillion a year ago.

Domestic debt inched up 0.3 percent month-on-month to P3.918 trillion due to net issuance of government securities, the Treasury said.

Foreign debt, meanwhile, declined 1.4 percent month-on-month to P2.151 trillion “due to the effect of third currency depreciation against the US dollar that resulted in the reduction of the peso value of third currency liabilities by P10.75 billion and net repayments amounting to P20.12 billion,” according to the Treasury.

“Peso devaluation over the period had a minimal effect amounting to P140 million” on external debt, it added.

The Treasury noted that the peso weakened to 48.485:$1 in October from 48.482:$1 last September.

The government’s total guaranteed obligations, meanwhile, went down 0.8 percent month-on-month to P560.65 billion.

“The reduction in the national government’s contingent liabilities was due to the collective effect of net repayments on domestic guarantees and currency depreciation on the peso value of third currency denominated guarantees amounting to P610 million and P4.32 billion, respectively. This offset the effect of weaker peso against the US dollar, amounting to P20 million and net availment on external guarantees amounting to P610 million,” the Treasury explained.

ADVERTISEMENT
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bureau of Treasury, Liabilities, outstanding debt, Weaker Peso
For feedback, complaints, or inquiries, contact us.
globalnation

‘False pride’: Palace memo on foreign aid, loans hit

September 22, 2019 05:15 AM

newsinfo

Polio blame game: PAO chief lashes back at ‘trolls’

September 22, 2019 05:10 AM

business

Ramon Ang rallies hunger champions

September 22, 2019 05:10 AM

lifestyle

It’s still paradise in Coron, despite the rains

September 22, 2019 05:10 AM



© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.