PH debt rises to P7.8 trillion in March, up 13.4 pct year-on-year

buddywbuddyw Member PEx Influencer ⭐⭐⭐

PH debt rises to P7.8 trillion in March, up 13.4 pct year-on-year

MANILA - Philippine debt stood at P7.802 trillion in March, 13.4 percent higher than the P6.879 trillion posted in the same month last year, the Bureau of the Treasury (BTr) said Tuesday. 

The debt level in March was also P350 billion higher compared to February and was up almost P510 billion from December 2019. 

Foreign borrowings made up 33.4 percent of the total debt stock with the rest coming from domestic borrowings. 

The BTr said domestic debt increased as the government borrowed more and the peso weakened against other currencies. 

The government has said that it would raise borrowings to finance this year's spending program, including President Rodrigo Duterte's ambitious infrastructure push.

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  • gotta lick itgotta lick it Member PEx Influencer ⭐⭐⭐

    according to S&P, DEBT is GOOD!!!

    Philippines upgraded to +BBB by S&P
  • knorrknorr 8anned by Abmin PExer

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  • buddywbuddyw Member PEx Influencer ⭐⭐⭐

    PH debt scales to record high P7.8T

    After the successful sale of retail treasury bonds (RTBs) in March, the national government’s outstanding debt further climbed to a new high of P7.8 trillion at the end of the first quarter.

    In its latest report, the Bureau of the Treasury said outstanding liabilities as of March rose 7 percent from P6.9 trillion a year ago and 4.7 percent from P7.5 trillion a month ago.

    Since the start of 2019, the national government has accumulated an additional P509.8 billion in debt, up 7 percent from end-2018’s P7.3 trillion.

    Two-thirds of the debt stock was borrowed locally.

    Domestic borrowings jumped 16.4 percent year-on-year, 8.8 percent year-to-date, and 6.1 percent month-on-month to P5.2 trillion.

    “For the month, the increment in the level of domestic debt was caused by the net issuance of government securities amounting to P298.2 billion and the P430-million revaluation of onshore dollar bonds brought about by peso depreciation,” the Treasury said in a statement, noting that the peso weakened to 52.629:$1 at end-March from P51.769 against the greenback in February.

    To recall, the Treasury issued P235.9 billion in five-year RTBs in March at a rate of 6.25 percent following strong demand from small investors and availability online.

    It was the Duterte administration’s fifth RTB sale during its first three years in office, as the government wanted to borrow more, partly to finance the massive infrastructure projects under its ambitious “Build, Build, Build” program.

    Also, external debt increased 8 percent year-on-year, 3.6 percent year-to-date, and 2 percent month-on-month to P2.6 trillion as of end-March.

    “The higher external debt for the month was principally due to the impact of local currency fluctuation against the US dollar amounting to P42.4 billion and net availment of foreign loans amounting to P11 billion. Meanwhile, net depreciation on third-currency denominated debt carved out P1.4 billion,” the Treasury explained.

    At the end of the first quarter, the national government’s outstanding guaranteed debt inched up 1.3 percent month-on-month to P479.7 billion due to the net issuance of domestic guarantees amounting to P2.8 billion and currency fluctuations on both local and third currencies, which increased the peso value of external guarantees amounting to P4.7 billion and P420 million, respectively, even as net repayments on external guarantees offset P1.6-billion worth of obligations, the Treasury said.

    Outstanding guaranteed debt nonetheless declined 4.4 percent year-on-year and 1.6 percent year-to-date.

    Last year, the share of debt to gross domestic product (GDP) stood at 41.9 percent, and the Cabinet-level, interagency Development Budget Coordination Committee  expects the debt-to-GDP ratio to stay at that level this year.

    While the government was seeking more foreign financing for its big-ticket infrastructure projects, the bulk of the annual national budget was being funded by local borrowings, mainly from the sale of Treasury bills and bonds.

    “The medium-term financing program will continuously favor domestic sources with a 75-25 split between domestic and external borrowings, to mitigate foreign exchange risks while contributing to the development of the domestic capital market,” such that “national government debt is projected to maintain its downward course to 38.8 percent of GDP by 2022, anchored on the government’s sustainable fiscal strategy and faster economic expansion,” the Department of Budget and Management said in a recent report.

  • lechon xlechon x Olats PEx Influencer ⭐⭐⭐
    galing from my inbox.
    from pareng khulafo :lol:


    By Khulafu Lapulapu
    Nung 2016, nagpirmahan ang China at Pilipinas ng 27 loan agreements.

    Isa lang sa 27 na loan agreements ang tinupad ng China kay Duterte.

    Ang P4.372B loan agreement para sa Chico River Pump Irrigation Project.

    Nasaan na ang budget na ito Duterte? Hindi pa rin nasisimulan ang project na ito. Nagbigay din ang China ng P1.5B para sa Post Conflict Rehab ng Marawi.

    Nasaan na ang budget na ito Duterte? Nagbigay din ang China ng 47 equipment para sa rebuilding ng Marawi worth P150M. Groundbreaking pa lang ng rehab ng Marawi ang nangyari. P75B ang kailngan ni Duterte para sa rehab ng Marawi. Nasan na ang tulong financial ng Japan for the Marawi Rehab na P970M?

    Nasaan na ang tulong US for Marawi Rehab na P1.7B? Nasan na ang pangakong P3B tulong ng EU para sa rehab pa rin ng Marawi at para sa iba pang humanitarian projects nila para sa buong Mindanao? Umabot na sa P250B ang tulong ng mga ibang bansa para sa Marawi Rehab.

    Nasaan na ito Duterte? Nasaan na ang P5B na Yolanda fund na nilagay mo para sa Marawi Rehab? Ang masama pa,nagbebenta ngayon ang Bangko Sentral ng Pilipinas ng government bonds para sa Marawi Rehab? Bakit pa Duterte?

    Di pa ba sapat ang pondo ngayon na hawak mo for the MarawiRehab? Sobra sobra na nga! Bakit di pa nagsisimula ang Marawi Rehab?

    Next, nasaan na ang inutang mo sa Japan na P4.57B para sa road expansion sa Bulacan? Nasaan na rin ang 600B yen na loan na pinagkaloob sa yo ng Japan for the Subway Project sa Manila na sabi ni Sec. Tugade ng DOTr ay sisimulan na. Nganga pa rin! Puro groundbreaking! Di nman sinisimulan ang projects!

    Next nasaan na Duterte ang ODA loan sa atin ng South Korea na P8B para sa Jalaur Irrigation Project sa Iloilo?

    Naasan na rin ang concessional loan from South Korea worth $1B para sa infra projects ng Build Build mo Duterte? Kailangan ni Duterte ng P8Trilyon to P9Trilyon para sa Build Build Build Project nya. Eh ang pondo dapat para sa Build Build ni Duterted ay ang koleksyon sa excise tax na pinataw sa petroleum products.(Train Law)

    Last year, nakakolekta ang duterte govt. ng P40B dhil sa Train Law Nasan na ito Duterte? Madadagdagan pa ang koleksyon dis 2019 dahil pinatupad ngyon ang second tranche ng excise tax sa petroleum products na P2.00

    Next year meron pang additional excise tax na P1.50 Marami pang bansa abroad at mga bangko sa loob ng Pilipinas ang inutangan ng gobyerno ni Duterte na di ko na nilagay sa artikulo kong ito.

    Malulula kayo.

    Di pa kasama ang uutangin ni Duterte sa China na P740B para sa Build Build mnya kapalit ng Joint Exploration na gustong mangyari ng China with d PHL sa Recto o Reed Bank sa WPS.

    Nabigay na ba sa yo Duterte ang pautang na ito para sa Build Build Build Projects mo? Di bat napapaloob ito sa pinirmahan nyo ni Pres.Xi JinPing ng China na 29 MOUs nung dumalaw sya sa Pilipinas last year?

    May tumatakbo na bang projects para sa Marawi Rehab at para sa BuildBuild mo? Wala! Nagbayad na nga tyo ng P27M sa ADB at sa Japan as penalty for the delay ng projects ng DPWH na si Mark Villar para sa Build Build mo.

    Next, November of last year, may pautang ang Japan sa Pilipinas na $336M para sa Pasig to Marikina River Channel Improvement Project. Nasaan na ito Duterte? Nasimulan n ba ang project? Hindi pa rin!

    January 2019, nangutang na agad tayo sa Japan ng $202M para sa road projects sa Davao.

    Ang Marawi Rehab di pa nasisimulan hanggang ngayon.

    Tapos road projects muna ng Davao?

    Ang latest na inutang na naman ni Duterte ay sa Japan ulit. Nangutang sya para sa PNR project na dating maanomalyang railway project ni Gloria Arroyo nung 2002. Ang Malolos-Tutuban PNR Project. Sisimulan daw ito nung Feb.15 2019, nasimulan na ba?

    Hindi pa rin. Groundbreaking lang.

    Pero ang usapan natin with Japan sa pautang na ito ay railway project ito from Malolos to Tutuban to Clark International Airport in the North and to Calamba,Laguna in the South. Ang laking pautang ito ng Japan sa Pilipinas! $1.41B! 109 kilometer project

    Di masamang mangutang Duterte kung may nakikita kaming proofs na nagmamaterialize ang mga projects mo na pinupuntahan ng inutang mo na kaming mga Pilipino naman ang magpapasan at magbabayad.

    Ang problema, wala kaming nakikitang projects na nasimulan na! Puro groundbreaking! NGANGA!

    Nasaan na ang perang inutang, tulong at pautang sa iyo Duterte na para sa mga Pilipino?

    BINULSA MO at ng mga TUTA MO.

    Puro projects ni Pres Pnoy ang nakita naming natatapos, na ang pondo ay galing pa sa termino ni Pres.Pnoy at hindi sa mga pinaguutang mo sa termino mo mismo.

  • buddywbuddyw Member PEx Influencer ⭐⭐⭐

    PH borrows ₱19B from Chinese investors via bond float

    Metro Manila (CNN Philippines, May 16) — The Philippine government borrowed more money from the Chinese, this time by issuing new debt papers to investors. 

    The Bureau of the Treasury said its return to the Chinese capital market allowed the government to raise 2.5 billion renminbi (about ₱19 billion) worth of debt papers. This marks the second time the Duterte administration tapped the panda bond market, following a similar issuance in March 2018 where it raised 1.46 billion renminbi (₱11 billion). 

    The three-year papers were issued May 15 and are priced at 3.58 percent, just 32 basis points higher than the benchmark yield. 

    Demand was overwhelming, as the Philippines received offers worth over 11 billion renminbi (about ₱84 billion). The government took this as a "strong vote of confidence" to the Philippine economy. 

    “Such confidence by the global investor community stems from our solid creditworthiness brought about by the government’s unwavering commitment to sound macroeconomic policies and fiscal discipline in the face of domestic and external challenges,” Finance Secretary Carlos Dominguez III said in a statement. 

    Some 42.4 percent of the debt placements were secured by investors based in China, while the remaining were snatched by overseas lenders, mostly commercial banks. 

    The issuance comes shortly after the United States and China escalated their ongoing trade war, announcing even higher tariffs for imported goods sourced from the other. This has driven market jitters, which has pushed yields down for emerging markets. 

    The panda bond offering comes just a week after the Philippines floated euro-denominated bonds to global investors, where it raised €750 million (about ₱44 billion). 

    The Philippines borrows from both local and foreign sources to finance its spending plans and grow the economy. The Duterte administration has been actively tapping unexplored markets abroad for multiple funding sources. 

    These debt notes are also on top of the $273.3 million official development assistance which the Philippines secured so far from China, which are meant to fund big-ticket infrastructure projects on the "Build, Build, Build" pipeline. 

    Critics of the administration have been questioning the credit lines from China, warning of a debt trap which they warn could lead to the Philippines ceding control of disputed islands should we fail to pay the billions worth of loans. But the government said that debt exposure to China remains modest despite these borrowings. 

    The Treasury is also exploring the timing to issue fresh yen-denominated or samurai bonds to shore up more funding, this time from Japanese investors. 

  • knorrknorr 8anned by Abmin PExer

    Habang busy busy kayo sa Hangalan 2019 election,

  • buddywbuddyw Member PEx Influencer ⭐⭐⭐

    Gov’t borrowings rise 202% in first quarter

    The national government borrowed more in the first three months of the year to support the Duterte administration’s infrastructure program as well as bridge the projected budget deficit, data from the Bureau of the Treasury showed.

    Based on the Treasury report, the national government’s total borrowings in the first-quarter jumped by 202 percent to P623.6 billion from P206.18 billion in the same period last year and bulk of which was sourced from the domestic market.

    At end-March, local borrowings stood at P490.6 billion, up by 694 percent from P61.78 billion in the previous year, while offshore financing rose by eight percent year-on-year to P132.98 billion from P144.4 billion.

    The rise in government borrowings in the quarter ending March is attributable to the increased sale of short- and long-dated IOUs by the treasury bureau.
    The government sold P141.5 billion worth of Treasury bonds during the quarter, and another P131.28 billion of Treasury bills.

    Likewise, the P78.04 billion proceeds from the sale of global bonds in January and the P48.34-billion conversional loans from multilateral institutions contributed to the increase in overseas borrowings during the period.

    In March alone, the national government’s financing activities accelerated by 608 percent to P314.47 billion from only P44.37 billion in the same period last year. Of the total amount, local borrowings reached P298 billion, while overseas financing amounted to P16.47 billion.

    The main reason for the higher borrowings during the month was the P235.83-billion sale of retail Treasury bonds in the domestic market.

    Last week, the treasury reported that the national government’s outstanding debt stood at P7.786 trillion, up by 13 percent compared with P6.874 trillion in the same period last year. Of the total stock, 66.8 percent was borrowed domestically, while the balance 33.2 percent was sourced from external markets.

    Based on the treasury report, debt in the local market jumped 16 percent year-on-year to P5.205 trillion in April from P4.499 trillion a year ago, while offshore obligations rose nine percent from P2.375 trillion to P2.581 trillion.
    According to the treasury, the increase in debt was owing to higher borrowing requirement of the national government to bridge its projected budget deficit and revaluation of onshore dollar bonds.

    The local currency weakened last April, averaging at 52.098 against the US dollar from 51.734 in the same month last year.

    The stronger US dollar also raised the national government’s debt obligation in the overseas markets.

  • Plantation BoyPlantation Boy Member PEx Influencer ⭐⭐⭐

    Gov’t borrowings rise 202% in first quarter........

    Are all the borrowings from China?
  • lechon xlechon x Olats PEx Influencer ⭐⭐⭐

    BSP: Foreign debt rising but still at ‘prudent’ levels

    The Philippines’ external debt remains at prudent levels despite a slight uptick in the first quarter of the year, due mainly to additional borrowings by the government to fund the Duterte administration’s infrastructure buildup program, the central bank said.

    In a statement, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the country’s outstanding external debt stood at $80.4 billion as of end-March 2019, up by $1.5 billion—or 1.9 percent—from $79 billion at the end of last year.

    The growth in the debt level during the first quarter was due mainly to net availments of $1.8 billion as the national government raised $1.5 billion from the issuance of global bonds to fund general financing requirements, and positive audit adjustments,” he said.

    However, the rise in the debt stock was tempered by the increase in residents’ investments in Philippine debt paper, including government bonds issued offshore.

    Year-on-year, the debt stock likewise reflected an increase of $7.2 billion brought about by net availments ($9.2 billion, of which $3.8 billion was attributable to the national government) and adjustments for the prior periods of $960 million.

    This upward impact on the debt stock was partially offset by the transfer of Philippine debt paper from nonresidents to residents ($2.3 billion, of which government bonds accounted for $1.9 billion), and negative foreign exchange revaluation adjustments of $740 million.

    External debt refers to all types of borrowings by Philippine residents from nonresidents, following the residency criterion for international statistics.

    As of end-March 2019, the maturity profile of the country’s external debt remained predominantly medium- and long-term in nature—meaning, those with original maturity longer than one year—with share to total at 79.1 percent.

    Short-term account, or those with original maturity of up to one year, comprised the 20.9- percent balance of debt stock.

  • knorrknorr 8anned by Abmin PExer

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  • knorrknorr 8anned by Abmin PExer

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