Gov’t Plans to Borrow P170B in August

The government is planning to borrow 170 billion pesos from the domestic market this coming  August, nearly a fifth lower than the July borrowing program, the Treasury said on Wednesday. 

The Bureau of the Treasury is also offering longer term papers next month as investors seek higher returns on their investments.

In an advisory on Wednesday, the Treasury said it plans to raise 110 billion pesos in Treasury bills and 60 billion pesos in Treasury bonds next month. This is 17% lower than the 205-billion-peso borrowing plan for July, but similar to the program in June and May.

In July, the government raised 165.5 billion pesos via government securities.

The Treasury has canceled three scheduled auctions during the month to give way to the public offer of retail Treasury bonds which is set to run until August 7.

The amount so far has already exceeded the record 310 billion pesos in three-year retail bonds sold in February.

Source: https://www.bworldonline.com/govt-plans-to-borrow-p170b-in-aug/

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.