MANILA, Philippines—A P540-billion short-term loan from the Bangko Sentral ng Pilipinas (BSP) to the national government raised outstanding government debt to a new high of P10.33 trillion in January 2021.
Including the amount that the BSP advanced for budgetary support, local borrowings still accounted for the bulk, or 71 percent, of total debt as the government gave priority to the domestic market as loan source because it was less risky and oozing with cash.
In terms of cost and risk, “the debt portfolio reflects minimal exposure to interest rate volatility,” the Bureau of the Treasury said in a report on Tuesday (March 2).
The Treasury said as…
Keep on reading: PH debt zooms to new high of P10.33 trillion in January