Gov't sells P272-B T-bills in Jan-Nov 2012
MANILA, Philippines – The Aquino administration sold P272.488 billion worth of Treasury bills from January to November 2012. It is looking to issue more of the debt papers this year as it favors domestic borrowings.
Of the P272.488 billion, 91-day T-bills accounted for P71 billion, 182-day for P85.16 billion, and 364-day for P116.328 billion, according to the Bureau of Treasury.
The Treasury previously reported that Treasury bonds, or debt papers with tenors running from 3 to 25 years, reached P3.131 trillion at the end-November 2012 period.
National Treasurer Rosalia de Leon said the government would sell more T-bills and bonds to local investors in 2013.
De Leon said more local, and less foreign borrowings would be incurred this year to protect the economy from foreign exchange fluctuations, and siphon off excess liquidity in the domestic market, which adds undue pressure on the peso.
For the first quarter, the government has programmed P120 billion in domestic borrowings, 33% higher than the P90 billion programmed for the same quarter of 2012.
Also, under the 2013 borrowing program, the government will increase the auction size, but cut the frequency of Treasury debt sales to twice a month instead of weekly.
To be auctioned off are P15 billion worth of T-bills on January 9, February 6 and March 6, for a total of P45 billion. The P15 billion is double the 2012 T-bill auction size of P7.5 billion.
The government will also auction off P25 billion worth of T-bonds on January 24 (7-year), February 21 (10-year), and March 21 (20-year). The P25 billion is more than double the 2012 T-bond auction size of P9 billion. – Rappler.com