Increased interest payments and amortization costs reduced the national government's debt servicing in April by more than double compared to payments made a year earlier, data released by the Bureau of the Treasury showed over the weekend. In April, debt payments totaled P64.28 billion, down 130.74 percent from P148.34 billion a year ago. Interest payments increased by 8.86 percent to P23.81 billion from P21.88 billion in April 2020, accounting for 37.05 percent of total servicing. In April, domestic interest payments inched up by 16.91 percent to P17.50 billion, up from P14.96 billion the previous month, while external interest payments decreased by 8.57 percent to P6.31 billion, down from P6.91 billion. Year-to-date, debt payments have climbed by 19.96 percent to P585.79 billion, up from P488.31 billion in the same period last year.

Source: Manila Times June 13, 2021 16:47 UTC