|
By Angelo S.Samonte Reporter
THE government recorded a smaller
debt in May compared to the borrowings made the month before due to
net redemptions and repayments as well as the continuous
appreciation of the peso.
The Bureau of Treasury said that
as of May, the national government’s debt dropped 2.1 percent, or
P81 billion from the April level.
The government’s total
outstanding debt stood at P3.819 trillion, of which 44 percent was
owed to foreigners and the remaining 56 percent from domestic
creditors.
The domestic debt declined by P33
billion from the April level due to net redemptions, the bureau
said.
The agency also noted that the
2.8-percent drop in the foreign debt was due to P2-billion net
repayments and P46 net appreciation of the peso and third currencies
against the dollar.
The contingent debt, composed
mainly of guarantees the national government made on obligations
incurred by its units, declined to P530 billion, or P16 billion
lower than the April level of P546 billion.
The decrease was brought about by
the P15-billion net appreciation of the peso and other currencies
against the dollar in addition to P1 billion in net repayments.
|
