The issuance of domestic securities pushed the country’s debt to hit the P15-trillion mark in February, a new record high in outstanding obligations, the Bureau of the Treasury said.
Latest data from the Treasury showed that the national debt settled at P15.18 trillion as of end-February, the highest level to date.MANILA, Philippines —
The total debt pile would have been higher if it was not partially tempered by the effect of the stronger peso on foreign debt valuation.As such, it trimmed P660 million from the local debt through downward revaluation of foreign currency denominated domestic debt. Total domestic debt at P10.58 trillion went up by four percent on a monthly basis due to the net issuance of government securities.Gross issuance of domestic debt in January reached P708.74 billion, while principal payments totaled P293.57 billion, resulting in a net issuance of P415.17 billion.
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