Gov’t to borrow P437 B in Q4

The national government will borrow over P400 billion from the domestic market in the last quarter of this year.

- By MARCO LUIS BEECH

The Bureau of the Treasury (BTr), in an updated memorandum to all government securities dealers, announced plans to raise P437 billion through short-term Treasury bills (T-bills) and long-term Treasury bonds (T-bonds) between October and December as part of its borrowing program.

The government will auction P262 billion in Treasury bills through 91, 182 and 364-day tenors, while also raising P175 billion from Treasury bonds with maturities ranging from three to 25 years, according to official plans.

Administration’s fourth-quarter borrowing plan is set at 36.7 percent lower than the P690 billion programmed in the previous quarter, reflecting reduced funding requirements for the period.