P7.6 trillion debt reflects a decrease of P79.0 billion from end December 2013 figure
Ratio improved 7 percentage points from 44.3% figure posted in 2009
Read MoreThe Philippine government continues to improve on its liability management performance on the back of the Aquino administration’s commitment to uphold the nation’s creditworthiness. As of March 2014, the general government (GG) debt stood at P4,492.0 billion or 38.1% of GDP. The current ratio is lower than the Q1 2013 level of 38.5%.
Read MoreOutstanding Public Sector Debt to GDP down to 70.2% as of 2013 Q2
Read MoreFollowing the signing of agreements to facilitate the Second Round of Debt Treatment under the U.S. Tropical Forest Conservation Act of 1998 (TFCA 2), the Philippine and U.S. Governments are in the preparatory stages for the utilization of the Second Tropical Forest Conservation Fund (TFCF) to strengthen tropical forest conservation efforts nationwide.
Read MoreSecretary of Finance Cesar Purisima urged the United States Congress to quickly reach an agreement to raise the US’s borrowing limit, against the possibility of global economic disaster.
Read MoreGeneral Government Debt down to 38.9% of GDP
The Philippines-Italy Debt for Development Swap Program arising from the Agreement signed between the Government of the Republic of the Philippines, through the Department of Finance, and the Republic of Italy, through the Embassy of Italy in Manila on May 9, 2012 is now in its full swing. The DOF has started accepting Project Proposals under the Program from the first day of September.
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Read MoreFinance Secretary Cesar V. Purisima and Italian Ambassador H.E. Luca Fornari signed on May 29, 2012 the Debt-for-Development Swap Agreement (the Agreement) between the Government of the Republic of the Philippines and the Government of the Italian Republic.
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