Gov't sets P585 B borrowings in Q2

The government is set to borrow P585 billion from the domestic market in the second quarter amid hopes of more favorable interest rates here and abroad.

- LOUISE MAUREEN SIMEON

In a memorandum to all government securities eligible dealers, the Bureau of the Treasury said it intends to raise the amount from both short-term T-bills and long-term T-bonds from April to June.

The government is set to auction off P195 billion in T-bills via the 91-, 182- and 364-day tenors.

It will also raise P390 billion from T-bonds with maturities of three to 20 years.

The Treasury holds the auction of short-dated T-bills every Monday and T-bonds every Tuesday.

The second quarter borrowing plan is the same program as the first quarter.

However, the government managed to raise only 81 percent or about P472.3 billion from the plan.