Outstanding IOUs inch up in April as easing inflation sells more debt paper

MANILA, Philippines — As the government sold more short-dated debt paper on the back of easing inflation, the amount of outstanding government-issued IOUs inched up to P5.204 trillion at end-April.

The latest Bureau of the Treasury data showed that the total outstanding treasury bills and bonds as of last month rose from P5.196 trillion in March.

Outstanding T-bills increased to P622.1 billion from P607.6 billion a month ago as the Treasury awarded bigger volumes amid strong demand.

On the other hand, outstanding treasury bonds slightly declined to P4.582 trillion from P4.588 trillion in the previous month as some long-dated securities matured.

Among the outstanding treasury bills, P114.7 billion were from the auction of benchmark 91-day IOUs; P179.6 billion from 182-day debt paper; and P327.8 billion from 364-day T-bills.

As for the outstanding T-bonds, three-year IOUs have a face amount of P94.9 billion; five-year debt paper, P261.5 billion; seven-year treasury bonds, P608.7 billion; and 10-year T-bonds, P447.3 billion.

The outstanding amount for 10-year agrarian reform bonds was P9.04 billion; 20-year IOUs, P368.1 billion; and 25-year debt paper, P235.9 billion.

Of the $6.582-million Philippine Par Bond redenominated into 28.5 years, the outstanding amount was P97.1 million.

Also outstanding were P909.3-billion benchmark bonds; P50 billion in 25-year CB-BoL T-bonds; P26.05-billion onshore dollar T-bond; and P1.6 trillion in retail treasury bonds (RTBs).