PH debt payments up 86% in October

Posted at 12/06/12 4:05 PM

MANILA, Philippines - The government paid more debt in October versus the same period a year ago, data from the Bureau of Treasury showed.

Debt payments amounted to P41.66 billion in October, up 86% from P22.35 billion a year ago.

This is was partly driven by an increase in interest payments, which grew 69% to P21.44 billion, comprised of P14.37 billion paid to domestic maturing obligations, and P7.07 billion to foreign creditors.

Meanwhile, principal payments during the month amounted to P20.22 billion, composed of P17.5 billion that went to domestic debts and P2.72 billion to foreign debts.

In the 10 months to October, debt payments went up 7% to P662.05 billion from P619.86 billion a year ago.

Interest payments reached P279 billion, while principal payments amounted to P443.75 billion.