Overview of the Philippine Debt Situation
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
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