Gov’t to raise P160B from Tbonds, Tbills

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    The Bureau of the Treasury (BTr) is eyeing to raise P160 billion next month through the regular issuance of its treasury bills and treasury bonds.

    The BTr, in a memorandum posted on its website yesterday, released the schedule of treasury bills and treasury bonds for September, which is P10 billion lower than the P170 billion programmed for August.

    The BTr usually issues a quarterly domestic borrowing program, but it has released its planned offering on a monthly basis since April as it took into consideration recent developments, particularly the coronavirus disease 2019 (COVID-19) pandemic.

    The amount programmed in September is lower than the figure set this month as the 35-day treasury bills will no longer be offered.

    The 91-day, 182-day and 364-day treasury bills will be auctioned five times in September, with volumes of P5 billion, another P5 billion and P10 billion, respectively, for a total of P20 billion every auction.

    The BTr will also auction three-year and 10-year treasury bonds in September, with a volume of P30 billion for every auction.

    It was earlier reported the national government’s outstanding debt is seen to exceed the P10 trillion mark by the end of the year, as the country had to borrow more in recent months to fund its COVID-19 response.

    According to the BTr’s most recent report, the national government’s outstanding debt has breached the P9 trillion mark as of the end of the first semester.

    The government had to increase borrowings amid the immediate need to fund measures to address COVID-19, while revenue collections weakened due to the implementation of quarantine measures which limited economic activity.