GOV’T DEBT PA­PER IS­SUED IN FIRST 9 MONTHS HIT P4.2T

Philippine Daily Inquirer - - BUSINESS - —BEN0. DE VERA

The to­tal amount of out­stand­ing gov­ern­ment-is­sued IOUs fur­ther in­creased to P4.188 tril­lion as of Septem­ber as more debt pa­per were sold dur­ing the pe­riod, the lat­est Bu­reau of the Treasury data showed.

The com­bined value of out­stand­ing treasury bills and bonds at the end of the first nine months was higher than end-Au­gust’s P4.151 tril­lion.

From Jan­uary to Septem­ber, treasury bonds ac­counted for the bulk of out­stand­ing debt pa­per with a face amount of P3.848 tril­lion, up from P3.818 tril­lion a month ago.

Out­stand­ing treasury bills amounted P339.9 bil­lion, also up from P332.9 bil­lion in the pre­vi­ous month.

Among the out­stand­ing treasury bonds, three-year IOUs reached P45 bil­lion; fiveyear debt pa­per, P308.4 bil­lion; seven-year treasury bonds, P590.9 bil­lion, and 10year T-bonds, P398.2 bil­lion.

For 10-year agrar­ian re­form bonds, the out­stand­ing amount reached P6.6 bil­lion; 20-year IOUs, P319.3 bil­lion, and 25-year debt pa­per, P235.9 bil­lion.

Of the $6.582 million Philip­pine par bond re­de­nom­i­nated into 28.5 years, P97.1 million re­mained out­stand­ing.

Also out­stand­ing were P958.4 bil­lion in RTBs, P909.3 bil­lion in bench­mark bonds; P50 bil­lion in 25-year CB-BoL T-bonds, and P25.4 bil­lion on­shore dol­lar T-bond.

As for the out­stand­ing Tbills, P105.1 bil­lion was from the auc­tion of 91-day IOUs; P119.1 bil­lion from the 182-day debt pa­per and P115.7 bil­lion from 364-day treasury bills.

In the fourth quar­ter, the Treasury will bor­row P150 bil­lion lo­cally through the auc­tion of T-bills and T-bonds. The planned vol­ume is lower than the third quar­ter’s P195 bil­lion.

As do­mes­tic in­ter­est rates re­main rel­a­tively low, the gov­ern­ment will fi­nance its pro­grammed wider bud­get deficit equiv­a­lent to 3 per­cent of gross do­mes­tic prod­uct this year un­til 2022 through a bor­row­ing mix of 80-per­cent lo­cal and 20-per­cent for­eign.

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