Outstanding IOUs up to P3.83T as of June

The total amount of outstanding government-issued debt paper rose to P3.83 trillion as of June, the latest Bureau of the Treasury data showed.

The combined value of outstanding treasury bills and bonds in June was higher than the P3.79 trillion a month ago.

The bulk of the outstanding debt paper was composed of treasury bonds, with a face amount of P3.54 trillion, up from P3.52 trillion as of the end of May.

The outstanding treasury bills, meanwhile, amounted to P287.8 billion, also up from end-May’s P281.4 billion.

Last month, the treasury sold all P20 billion in treasury bills as well as P25 billion in  treasury bonds it offered.

Among the outstanding T-bonds, three-year IOUs amounted P50.8 billion; five-year debt paper, P276.4 billion; seven-year treasury bonds, P544.1 billion; and 10-year T-bonds, P362.6 billion.

For the 10-year agrarian reform bonds, the outstanding amount was P6.8 billion; 20-year IOUs, P298.3 billion, and 25-year debt paper, almost P236 billion.

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

Also outstanding were P725.7 billion in retail treasury bonds; P965.8 billion in benchmark bonds; P50 billion in 25-year CB-BoL T-bonds, and P23.5-billion onshore dollar T-bond.

As for the outstanding T-bills, P86.8 billion was from the auction of 91-day IOUs; P92.4 billion from 182-day debt paper; and P108.6 billion from 364-day treasury bills.

The government had programmed to borrow P135 billion domestically, through the issuance of treasury bills and bonds, during the third quarter.

The third-quarter domestic borrowing program had a similar volume to those programmed during the first two quarters.

At the first meeting of the Cabinet-level, interagency development budget coordination committee under the Duterte administration early this month, the borrowing program for this year was kept at 86-percent domestic, 14-percent foreign, while a mix of 80-percent domestic and 20-percent foreign will be implemented in the succeeding years.