Gov’t outstanding IOUs up to P3.86T as of July

The total amount of outstanding government-issued debt paper further rose to P3.86 trillion as of July, latest data from the Bureau of the Treasury showed.

The combined value of outstanding treasury bills and bonds as of the end of July was up from P3.83 trillion a month ago.

Treasury bonds accounted for the bulk of the outstanding debt paper, with a face amount of P3.57 trillion, up from P3.54 trillion as of the end of June.

Outstanding treasury bills, meanwhile, amounted P290.8 million, also up from P287.8 billion in June.

In July, the Treasury sold all P20 billion in T-bills as well as P25 billion in T-bonds it offered.

Among the outstanding

T-bonds, three-year IOUs amounted to P50.8 billion; five-year debt paper, P276.4 billion; seven-year treasury bonds, P569.1 billion, and 10-year bonds, P362.6 billion.

For 10-year agrarian reform bonds, the outstanding amount was P6.8 billion; 20-year IOUs, P298.3 billion, and 25-year debt paper, 236 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 in onshore dollar T-bonds.

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 P111.7 billion from 364-day treasury bills.

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

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

The Cabinet-level, interagency Development Budget Coordination Committee had kept the borrowing program for this year at 86 percent domestic, 14 percent foreign.