Outstanding IOUs up to P3.9T in August

The total amount of outstanding government-issued debt paper further rose to P3.88 trillion as of August, the Bureau of the Treasury data showed.

The combined value of outstanding treasury bills and bonds as of the end of August rose from P3.86 trillion a month ago.

Treasury bonds accounted for the bulk of outstanding debt paper, with a face amount of P3.59 trillion, up from P3.57 trillion as of the end of July.

Outstanding treasury bills, meanwhile, amounted to P293 billion, also up from P290.8 billion a month ago.

In August, the BTr sold all P20 billion in T-bills and 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 T-bonds, P564.1 billion, and 10-year T-bonds, P362.6 billion.

For 10-year agrarian reform bonds, the outstanding amount was P6.9 billion; 20-year IOUs, P298.3 billion, and 25-year debt paper, P235.9 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 P23.3-billion onshore dollar T-bond.

As for the outstanding T-bills, P89 billion was from the auction of 91-day IOUs; P92.4 billion from 182-day debt paper, and P111.7 billion from 364-day T-bills.

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

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