CONTINUED borrowings and a weaker peso saw the national government's outstanding debt rise to a new record high of P13.91 trillion in April, the Bureau of Treasury reported on Wednesday.
For the month alone, P54.24 billion was added to total outstanding debt due to the 'net issuance of external debt and local currency depreciation against the US dollar,' the Treasury said in a statement.Local borrowings comprised the bulk, or 68.0 percent, of the outstanding debt. At P9.46 trillion, however, it was P55.32 billion or 0.6 percent lower compared to the end-March level due to the net redemption of domestic securities amounting to P57.79 billion.
56 billion higher than the previous month.This was due to a 'P27.98 billion net availment of external loans and P94.28 billion impact of local-currency depreciation against the US dollar,' the Treasury said.'On the other hand, third-currency adjustments against the US dollar trimmed P12.30 billion from the peso value of foreign currency debt,' it added.Compared to the end of December, external debt was 5.8 percent or P242.83 billion higher.
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