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حةمةدةمبل

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News Report:


PHL borrowed less in Feb., more form domestic market – Finance Dept. data

Showing less dependence on foreign debt, the Philippines borrowed less from creditors overseas in February, data released by the Department of Finance showed.

A total of P24.24 billion or 96.8 percent of P25.055 billion – the total borrowings in February – came from the domestic market, mainly from the sale of Treasury bonds.

It also represented a 35-percent decrease in domestic borrowings from a year earlier when the Philippines borrowed P37.33 billion out of P38.51 billion from the local market.

Borrowings in the first two months of the year totaled P52.13 billion compared with P79.84 billion a year earlier.

The Aquino Administration has programmed to  borrow P715 billion this year, of which P620 billion will be sourced from the local market.

For the second quarter, the government plans to issue P135 billion worth of debt papers to local lenders as part of its borrowing program.
     
Of the total, P75 billion will be raised through the sale of Treasury bonds while P60 billion will come from the issuance of Ttreasury bills. – Rie Takumi/VS, GMA News
 





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