Government debt climbs to ₱8.6 trillion in April

The Bureau of the Treasury reported on Tuesday that total government debt further grew in April due to issuance of domestic securities and borrowing more money abroad to help fund its COVID-19 response.

6/2/2020 4:51:00 PM

The Bureau of the Treasury reported on Tuesday that total government debt further grew in April due to issuance of domestic securities and borrowing more money abroad to help fund its COVID-19 response.

The Bureau of the Treasury reported on Tuesday that total government debt further grew in April due to issuance of domestic securities and borrowing more money abroad to help fund its COVID-19 response.

Total domestic debt increased 12.6 percent to ₱5.86 trillion as peso-denominated government securities grew 6.9 percent, year-on-year. Meanwhile, to date, total domestic debt increased 14.4 percent.In April alone, peso appreciation slightly weighed down on-shore dollar bonds by ₱170 million in April alone. The Treasury reported that the peso continued its good performance against US dollar, improving to ₱50.44:$1 in May versus the ₱50.78 rate in April.

Alden Richards, nag-camera man sa 'Eat Bulaga' Palace insists PH winning vs COVID-19 despite ranking 2nd in SEA virus count ‘Symbiotic:’ Dela Rosa believes anti-terror law will also ‘impact’ PH drug war

The remaining ₱2.74 trillion was sourced from foreign lenders, which grew 6 percent compared to April 2019. Year-to-date, this grew 5.1 percent.External loans for April amounted to ₱87.34 billion as the government raises financing to fight the spread of COVID-19 in the country.

Meanwhile, the national government set aside ₱477.68 billion in April for guaranteed payments. This is down 1.1 percent versus the previous year due to local and foreign redemption of guarantees at ₱3.24 billion and ₱10 million, respectively, as well as due to currency adjustments that trimmed P800 million to the value of external guarantees.

Government borrowings were expected to increase by April as it injects additional funds to its programs to fight COVID-19, and also due to a ₱560.5-billion decline in state revenues as businesses temporarily stop operations and consumers are unable to shop.

The administration opted for more foreign borrowings, with the addition of ₱310 billion to support local efforts to fight the virus plus a $2.35-billion dollar bond float. Read more: CNN Philippines »

Lakas mangutang kasi...

PSC gets 90% fund cut from Pagcor in AprilThe Philippine Sports Commission only received P9 million in April, prompting the government agency to slash the allowances of national athletes and coaches. Ung kaldero benta niyo na. Ipatubog n yung kaldero 100M daw magiging value nun after SEA Games!! 😅😂🤣

PSC gets 90% fund cut from Pagcor in AprilThe Philippine Sports Commission only received P9 million in April, prompting the government agency to slash the allowances of national athletes and coaches. Ung kaldero benta niyo na. Ipatubog n yung kaldero 100M daw magiging value nun after SEA Games!! 😅😂🤣

15-year-old girl rescued from transmission tower in Cebu CityCEBU CITY, Philippines -- A 15-year-old girl who climbed a transmission tower in Sitio Sandayong, Barangay Guadalupe here was rescued by personnel from the Guadalupe Police Station and Cebu City

Putin sets July 1 for reform vote as Moscow lockdown easesUPDATED. President Vladimir Putin said that Russia will vote on July 1 on constitutional reforms that could extend his rule beyond 2024, pressing ahead with the plan despite the coronavirus pandemic. Gumaya na sa ginawa ng CCP para kay Xi Jin Ping. Syempre may maiinggit dito sa 'Pinas, kaya ipipilit na ng todo ang ChaCha para sa term extension. 👹👊💩

Cash aid, energy and water supply, school subsidy included in Duterte's 10th report to CongressPresident Rodrigo Duterte is expected to submit the latest report on the government's response to COVID-19 this week, highlighting what has been done so far in the fight against the virus.

‘Tondominium’ rising in Manila’s largest slum areaGROUNDBREAKING SITE. An empty lot at Vitas in Tondo District, Manila, will be the site for two 15-story buildings—a housing project that will house families living in the city’s biggest slum area. (📷: Manila PIO) Read: