The government’s debt servicing contracted by 46.81 percent year-on-year in April 2014 to P16.1 billion on account of lower interest payments for both the domestic and foreign liabilities, a government press release said.

Bureau of the Treasury data show that debt payments in April 2013 totaled to P30.24 billion.

Compared to last March’s P36.45 billion, the decline is about 55.87 percent.

Bulk of the debt payments in the fourth month this year was accounted for by interest payments amounting to P13.4 billion, more than half lower than the previous month’s P30.8 billion.

Of the total, payments for domestic debt amounted to P10.66 billion, a big drop from the P20.04 billion in the previous month.

Payments for foreign liabilities reached P2.74 billion, more than three times lower than the P10.76 billion last March.

During the same period, payments for amortization amounted to P2.69 billion, way lower than the P5.65 billion and year-ago’s P 6.56 billion.*PNA

back to top