PH debt inches up to ₱13.91T in April

Metro Manila (CNN Philippines, May 31) — The country’s debt stock inched up by ₱54.24 billion to ₱13.91 trillion as of end-April, owing to the weakening of the peso against the US dollar, data from the Bureau of the Treasury showed.

In a statement Wednesday, the bureau also said the slight increase was due to the “net issuance of external debt.”

The majority or 68% of the national government’s outstanding debt last month was still sourced domestically, while the remaining was secured from foreign borrowings.

Debt from domestic sources dipped by 0.6% to ₱9.46 trillion from a month prior, as the country saw the net redemption of domestic securities reaching ₱57.79 billion.

Foreign debt, meanwhile, stood at ₱4.45 trillion, ₱109.56 billion higher from March as it took a hit from the depreciation of the local currency.

The peso had been losing ground against the greenback, with the weakest level recorded in April at ₱56.21.

On the other hand, the government's guaranteed obligations decreased by 0.9% to ₱380.69 billion.