MANILA, Philippines — Expectations of easing inflation lowered rates across the board and allowed the Bureau of the Treasury to raise P35 billion from short-dated T-bills Monday, but an international bank flagged risks of a credit-rating downgrade amid rising debt during a prolonged recession which jacked up the share of obligations to the economy slightly higher than the manageable threshold of 60 percent.
The Treasury fully awarded P5 billion in the benchmark 91-day debt paper at an average of 1.27 percent, down from 1.278 percent last week. It also sold P8 billion in 182-day IOUs at 1.54 percent, down from 1.549 percent previously.
The P12 billion in 364-day treasury bills fet…
Keep on reading: Rising share of debt to shrinking economy endangers PH credit ratings, says ING