Sign up | Log in



Home  >>   Daily News  >>   Philippines  News  >>   Economy  >>   Philippines redeems more debt than it issues
NEWS UPDATES Asean Affairs        9  April 2011

Philippines redeems more debt than it issues

Related Stories

April 7, 2011
Philippine manufacturers to pay less tax

April 2, 2011
Philippines central bank BSP mulls rate hike

April 1 , 2011
Philippines consumer sentiment fades

March 24, 2011
Philippine growth rate revised

March  22, 2011
Philippines kicks off bond sale

The Aquino administration paid off more debt than it borrowed during the first two months of 2011 Data from the Bureau of the Treasury revealed that the government’s financing position at end-February posted a net redemption of P167.67 billion (US$3.9 billion), or more than twice the P69.36 billion recorded last year.

In February alone, net redemptions stood at P102.96 billion, almost twice the P58.61 billion worth of net redemptions a year ago.

The gross external borrowings of P1.83 billion in February this year was almost 400 percent higher than the P380 million recorded in the same month last year.

Bulk of external borrowings for the month was accounted for by project loans, or financing for specific projects, amounting to P1.71 billion, and program loans, or those that supplement the budgetary needs of the sovereign at P123 million.

The equivalent of P63.2 billion of external debts were paid off during the month, which brought net external redemptions to P61.36 billion.

The government registered gross redemptions of P10.43 billion in domestic debt, as P19.34-billion worth of bonds that were issued were offset by P29.77-billion worth of Treasury bills that were paid during the month.

February’s gross redemptions of P10.43 billion compared with the P37.1-billion worth of gross borrowings registered in the same month last year.

Seven-year bonds amounting to P10.34 billion accounted for bulk of the P19.34-billion worth of long-term government securities issued for the month. Other bonds issued were 20-year notes (P6 billion), and 25-year notes (P3 billion).

For the year, the government intends to limit its budget deficit to about P290 billion, or 3.2 of the country’s gross domestic product.

At the end of February, the fiscal gap stood at P8.1 billion.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    9  April 2011 Subsribe Now !
• Asean bourse web site kicks off Subcribe: Asean Affairs Global Magazine
• Indonesia urges Asean countries to speed up integration Asean Affairs Premium
• Food prices drop in March
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Citibank episode exposes Indo bank rivalry
• Indonesia Debt Rating Raised

• Philippines redeems more debt than it issues

• Firm fights Thai telecoms maze  

• Vietnam wants French investment p

Asean Analysis    10  April 2011

Advertise Your Brand


Sponsor Our Events

Asean Stock Watch    April 2011


• Asean Stock Exchange News


Global News Impacting Asia    17 November 2010


• Bank of America sees Asian inflation


• Lloyd’s increases insurance push in Malaysia


• Wells Fargo analyst on euro


• Obama’s visit to Asia


ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand