The national government’s outstanding debt increased to a record P8.17 trillion at the end of March because of domestic securities issuance, data from the Bureau of the Treasury (BTr) showed. “Of the total debt stock, 33 percent were sourced externally while 67 percent are domestic debt,” it added. Domestic borrowings totaling P5.51 trillion — 1.2 percent bigger from the end-February amount — accounted for the bulk of outstanding debt, while external debt declined by 1.89 percent to P2.66 trillion. Outstanding debt in 2019 was recorded at P7.80 trillion, with domestic and foreign obligations at P5.19 trillion and P2.60 trillion, respectively. The exchange rate used a year earlier was P52.62:$1.

Source: Manila Times May 01, 2020 03:39 UTC