PHL govt to borrow P117B from local lenders in Q1 2012

The Philippine government plans to borrow P117 billion from domestic lenders in the first quarter of 2012 by issuing Treasury bills and bonds, the Bureau of Treasury said Thursday.   In January to March next year, the bureau said it will sell P54 billion worth of T-bills and P63 billion worth of T-bonds. The first quarter 2012 borrowing program compares with the P99-billion debt plan in January to March 2011.   The government borrows from the domestic market to fund its deficit spending. — VS, GMA News