Govt debt payments drop 70% in October to P65.78 billion

The national government's debt payments significantly decreased by almost 70 percent in October, reaching P65.78 billion compared to P216.85 billion in the same month last year.

This sharp decline was primarily attributed to reduced interest payments on external obligations and lower amortization costs due to fewer maturing securities.

Interest payments constituted the largest portion of the debt service, amounting to P57.37 billion, a slight increase from the previous year's P55.39 billion.

Domestic interest payments saw an 18.3 percent rise to P41.8 billion, underscoring the continued prevalence of domestic obligations.

To finance its operations and projects, the government issued P32.9 billion in fixed-rate Treasury bonds, P3.57 billion in retail T-bonds, and P3.81 billion in Treasury bills during October.