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The national government’s current account of its gross loans at the end of November fell to P3.05 trillion, as the Treasury Office offset the amount it paid to the central bank last September.
Unlike the report at the end of October, which showed a total of P840 billion (short-term loans from Bangko Sentral ng Pilipinas (BSP) amounting to P300 billion in March and P540 billion in October), the latest figures from the Treasury for November deducted the repayment of the first tranche in September from the year-to-date count.
As such, total gross debt at the end of November fell from P3.22 trillion in October.
National Treasurer Rosalía de León previously explained that the loans under the Treasury and the BSP repurchase agreement involved debt refinancing or extended liabilities.
Nonetheless, the end-of-November total still slightly exceeded the P3 trillion loan schedule for 2020.
Domestic loans at the end of November totaled P2.46 trillion, down from P2.65 trillion at the end of October, as only the outstanding repo of P540 billion remained accounted for in the Treasury tally.
At the end of 11 months, the government also raised a net of P465.3 billion of short-term treasury bills, P631.7 billion of fixed-rate treasuries, as well as P827.1 billion of treasury bonds. retailers (RTB) sold to small investors in February (P310.8 billion) and August (a record of P516.3 billion).
The amount collected from local debt sources from January to November has already exceeded the gross domestic debt program of P2.22 trillion for the entire year.
Meanwhile, gross external loans rose to P583.6 billion in November from P574.4 billion at the end of October.
Program loans from multilateral lenders and bilateral development partners totaled P364.6 billion during the 11-month period, while project loans reached P32.9 billion.
In a report last week, the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) said the Philippines was the third-largest recipient of financial support from multilateral development banks and international financial institutions to combat COVID. -19 in the region for an amount of $ 4.3 billion to date.
In Asia-Pacific, only India and Pakistan received funding greater than $ 6.4 billion and $ 4.4 billion, respectively.
The Philippines also raised P118.7 billion from the US dollar-denominated global bonds it issued in May, in addition to the previous P67.3 billion in proceeds from its euro bond sale in February.
This month, the Philippines returned to the offshore commercial market and sold $ 2.75 billion in dollar bonds in two installments.
Gross external debt had been scheduled to reach 785.6 billion pesos by the end of the year.
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