Overview of the Philippine Debt Situation

Only available on StudyMode
  • Topic: 1911, 1918, 1920
  • Pages : 57 (4968 words )
  • Download(s) : 863
  • Published : November 15, 2011
Open Document
Text Preview
Overview of the Philippine Debt Situation

Freedom from Debt Coalitiom April 29, 2008

Outline (1)
Philippine Debt Profile – 2007 Snapshot of Total Philippine Debt Public Debt - Focus on National Government External Debt NG Debt External

(to be added later: Closer look at Domestic Debt; Breakdown of GOCC Debts and GFI Debts)

Philippine Debt Through the Years Consolidated Public Sector Debt National Government Debt NG Debt External

Fiscal Situation and Fiscal Impact of the Debt Arroyo, Debt and the Fiscal Crisis National Government Contingent Liabilities

Outline (2)
Brief History of Debt Restructuring and Debt “Relief” Schemes Relevant Laws on the Debt and Borrowings Relevant Policies Relevant Laws

Philippine Debt Profile – as of 2007

Philippine Debt

PUBLIC

PRIVATE

EXTERNAL

DOMESTIC

Philippine Debt (end-Q3, 2007)
in trillion pesos, billion dollars

TOTAL
Php 5.144 T US$ 111.51 B

Domestic Debt Foreign Debt
Php 3.335 T US$ 72.30 B PhP 2.540 T US$ 55.07 B PhP 0.795 T US$ 17.23 B Php 1.809 T US$ 39.21 B PhP 1.679 T US$ 36.40 B PhP 0.13 T

Public Debt
Php 4.219 T US$ 91.47 B

Private Debt
Php 0.925 T US$ 20.04 B

US$ 2.81 B

Public Debt taken from DoF’s Consolidated Public Sector Debt Private Foreign Debt was taken from BSP’s Private External Debt Private Domestic Debt was taken from BSP’s FCDU loans of private residents Foreign Exchange Rate was pegged at BSP’s end-September 2007 rate: US$1=PhP46.1315

Public Debt

Public Debt
PUBLIC
External

Domestic

NATIONAL GOVERNMENT (NG) GOCCs GFIs

Government Owned and Controlled Corps

Government Financial Institutions

National Government Debt (NG)

(in trillion pesos, billion US dollars, using US$1 = PhP41.6)

NG Outstanding
end 2007

Php

3.712 T

US$

89.24 B

Domestic (by instruments)
Treasury Bills Treasury Bonds/Notes Loans Others

Php 2.201 T 0.614 1.565 0.022 0 Php 1.511 T 0.226 0.354 0.033 0.898

US$ 52.91 B 14.76 37.61 0.54 0.00 US$ 36.33 B 5.44 8.51 0.80 21.58 Source: Bureau of Treasury SDAD Note: Breakdown of totals may not add up due to rounding of digits

Foreign (by creditors)
Multilateral Bilateral Commercial Foreign Denominated Securities

NG Contingent Liabilities
Domestic Debt Foreign Debt

0.484
0.065 0.419

11.64
1.56 10.08

National Government Debt (NG) - External

NG External Debt (per lender type)
in billion US$, as of end 2007

20.00 18.00 16.00 14.00 12.00 10.00

19.35

6.29

4.74

8.00 6.00 4.00 2.00 -

0.50 0.19

Ot h

er s

Bo nd

s

Co mm erc

Bi lat e ial

ral

Mu ltil ate ra

l

NG External Lenders - Multilateral
Asian Development Bank (ADB)
European Union (EU) European Investment Bank (EIB)

OPEC - Organization of
Petroleum Exporting Countries

OPEC Fund for International Development (OFID) International Fund for Agricultural Development (IFAD) International Bank for Reconstruction and Development (IBRD) International Development Association (IDA)

United Nations (UN)

World Bank (WB)

NG Multilateral Debt by Lenders
in million US dollars, as of end 2007

3,043.43
3500.0 3000.0 2500.0

1,474.30
2000.0 1500.0 1000.0

15.95
500.0 0.0

7.25

28.62

172.35

ADB

EIB

OFID

IFAD

IBRD

IDA

Debts claimed by ADB in percentage
2% 4% 1% 2% 2%

Finance 40% Infrastructure 17%

5%

Multiple Agency 7% Energy 6%
40%

8%

Transportation 6% Agriculture 8%

6%

Environment 5% Education 4% Micro-credit 2%
6%

Agrarian Reform 2%
7% 17%

Health 2% Others 1%

NG Debt External Lenders - Bilateral
Australia Austria Belgium Belgium
(via Paris Club)

Export Finance and Insurance Corporation (EFIC) Bank Austria AG Government of Belgium Paris Club Account without Peso Blocked Deposit w/ BSP Brunei Investment Agency Canadian Agency for International Development (CIDA) Export Development Corporation (EDC)

Brunei Canada China

China Export Import (EXIM)...
tracking img