PH debt eases by 0.09% in April 2026

The Philippines’ sovereign debt stock declined slightly by about P17.5 billion in April 2026 mainly due to repayment of some of the government’s domestic obligations.

Data released by the Bureau of the Treasury (BTr) on Tuesday showed the national government’s outstanding debt stood at P18.47 trillion, down 0.09% from the end-March level of P18.49 trillion.

The Treasury attributed the slight easing in debt levels to the government’s repayment of domestic securities, which more than offset the impact of peso depreciation — from P60.678:$1 as of end-March to P61.540:$1 as of end-April — against the US dollar on foreign currency-denominated obligations.

In particular, domestic debt amounted to P12.41 trillion, down 0.95% or P119.18 billion from P12.53 trillion month-on-month.

“The decline was mainly due to the P121.64-billion net redemption for the month, as P283.24 billion in debt issuance was offset by maturities of P404.88 billion,” the BTr said.

“A P2.46 billion valuation increase in the peso equivalent of foreign currency-denominated domestic securities from peso depreciation partially tempered the decline,” it added.

Foreign debt, meanwhile, saw an increase of 1.71% or P101.61 billion to P6.06 trillion, from P5.59 trillion in March, “mainly due to the depreciation of the peso.”

The Treasury, moreover, said the revaluation of foreign currency-denominated obligations stood at P101.72 billion due to the weaker peso against the US dollar and third-currency movements.

“Of the total debt stock, 67.22% are domestic debt, while 32.78% represent external obligations,” it said.

The government earlier said it would continue to prioritize borrowing from local sources to protect itself from international financial risks, with domestic borrowing making up the lion’s share of the total sovereign debt. — BAP, GMA News