• NG Nov debt up at P5.716T

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    The government’s outstanding debt reached P5.716 trillion last November, up by 0.7 percent from last year.

    The minimal increase was due to the drop in foreign obligations. On a monthly basis, debt expansion was negligible at 0.05 percent  or P2.695 billion, official data shows.

    The Bureau of Treasury said 66 percent of the total were local borrowings at P3.789 trillion, up 1.2 percent year-on-year and 0.9 percent from the end-October level of P3.756 trillion.

    The foreign component of the outstanding government debt reached P1.926 trillion, down by 0.2 percent from the November 2013 level of P1.930 trillion, the data showed.

    Compared with October’s level, external debt dropped P30 billion or 1.6 percent on account of the strengthening of the local currency against the US dollar over the period and the net repayment and net depreciation of the third currencies against the dollar, the treasury said.

    The country’s foreign borrowings in October consisted of US dollar bonds and notes, yen bonds, euro bonds and peso global bonds—using a foreign exchange rate of P44.85 to a dollar.

    Meanwhile, national government-guaranteed debt fell to P432 billion in November, 3.2 percent or P14 billion lower from the end-October level.

    “Currency adjustments brought down the value of external guarantees while domestic guaranteed debt was reduced by the redemption of outstanding Agri-Agra bonds,” the bureau said.

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