Metro Manila (CNN Philippines, June 26) — The government plans to borrow more locally in the third quarter to fund its projects.
The Bureau of the Treasury (BTr), in a memorandum issued Wednesday, reported that the government will be borrowing ₱230 billion through the issuance of Treasury bills (T-bills) and Treasury bonds (T-bonds) between July and September, ₱20 billion more than what it borrowed last quarter.
Six T-bill auctions will be held in the third quarter: July 10, July 24, August 7, August 20, September 4 and September 18. During these auctions, ₱24 billion worth of the benchmark 91-day T-bills, ₱30 billion worth of 182-day T-bills and ₱36 billion worth of 364-day T-bills will be offered.
On the other hand, only three-year and seven-year T-bonds will be auctioned off at ₱20 billion a batch on July 4 and 18, respectively.
Bonds with longer terms will be offered the following month. The amounts and schedule of auctions are: ₱20 billion worth of 20-year T-bonds on August 1, ₱20 billion in 10-year T-bonds on August 15, and ₱20 billion in three-year T-bonds on August 29.
The BTr will auction off ₱20 billion worth of seven-year T-bonds on Sept. 12, and ₱20 billion in 20-year T-bonds on Sept. 26.
As of March, the government has posted a ₱7.802-trillion debt, more than half of which was sourced locally.
