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Home Business Economy & Trade

Gov’t debt decreased to P7.7t in November

Julito G. RadabyJulito G. Rada
January 2, 2020, 8:15 pm
in Economy & Trade
Reading Time: 1 min read
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The government’s outstanding debt declined P196 billion or 2.5 percent to P7.709 trillion as of end-November 2019 from the previous month’s level because of the net redemptions of domestic government securities, the Bureau of the Treasury said Thursday.

It said of the total debt stock, 33.6 percent were external debt while 66.4 percent came from domestic sources.

The Treasur, however, said compared to the November 2018 level, the government’s debt increased by P514.63 billion or 7.2 percent.

Domestic debt amounted to P5.115 trillion, down by P189.16 billion or 3.6 percent from the end-October 2019 level. 

“For November, domestic debt decreased mainly due to the net redemption of government securities amounting to P189.15 billion and P0.01 billion effect of peso appreciation on onshore dollar bonds,” the agency said.

It said that on a year-on-year basis, domestic debt climbed by P407.63 billion or 8.7 percent.

External debt went down by P7.28 billion or 0.3 percent to P2.59 trillion as of end-November from the previous month. 

“For November, the decline in external debt resulted from the combined effect of local and third-currency foreign exchange adjustments which decreased the value of foreign debt by P0.56 billion and P6.18 billion, respectively,” the Treasury said. Net repayments of external loans amounted to P0.53 billion. 

It said that on a year-on-year basis, foreign debt increased by P107.00 billion or 4.3 percent from November 2018.

Government guaranteed obligations decreased by P2.66 billion or 0.6 percent month-on-month to P475.00 billion in November as foreign exchange movements reduced the value of external guarantees by P1.61 billion. 

Tags: Bureau of the TreasuryDomestic debtoutstanding debt
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Julito G. Rada

Julito G. Rada

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