(UPDATE) CONTINUED borrowings and a weaker peso saw the national government's outstanding debt rise to a new record high of P13.91 trillion in April, the Bureau of the Treasury reported on Wednesday. For the month alone, P54.24 billion was added to total outstanding debt due to the "net issuance of external debt and local currency depreciation against the US dollar," the Treasury said in a statement. "This was slightly offset by the P2.47-billion effect on onshore foreign currency-denominated securities caused by peso depreciation against the US dollar," the Treasury added. "On the other hand, third-currency adjustments against the US dollar trimmed P12.30 billion from the peso value of foreign currency debt," it added. "These were tempered by the impact of local currency depreciation amounting to P3.95 billion," the Treasury said.
