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Philippines' COVID-19 loans balloon to P641 billion; to be paid until 2049

ABS-CBN Investigative and Research Group
Posted at Jan 21 05:28 PM

The running total of the country’s USD13.34 billion or approximately P640.96 billion loans will be paid from 2023-2049, with an average repayment period of 15 years for each loan. Read more »

Irresistible? Pension funds plot move on China's $16-T sovereign bond market

Dhara Ranasinghe and Saikat Chatterjee, Reuters
Posted at Jan 20 11:16 AM

A large, A+ rated market that pays 3 percent yields, with minimal volatility? It's looking increasingly alluring for European pension funds swimming in sub-zero bond yields as aging populations stretch their finances. Read more »

Finance chief assures enough funds for COVID-19 vaccines

ABS-CBN News
Posted at Jan 14 01:24 PM

Finance Secretary Carlos Dominguez III said the DOF has “in place” P75 billion of the P82.5 billion budget required to provide vaccines to around 55 percent of the population. Read more »

Debt, budget deficit levels rising but remain manageable: Finance chief

ABS-CBN News
Posted at Jan 12 06:10 PM

The Philippines’ rising debt and budget deficit levels remain manageable and sustainable, the Department of Finance said on Tuesday.    Read more »

'What's happening?' Palace asks Philhealth over 'debt' to private hospital

ABS-CBN News
Posted at Jan 11 03:44 PM

Malacañang on Monday questioned state medical insurer PhilHealth over its alleged failure to settle its debt to a private hospital.   Read more »

Fitch affirms Philippines rating, expects economic activity to continue to recover

Reuters
Posted at Jan 11 10:00 AM

Fitch Ratings said on Monday that it affirmed Philippines' long-term foreign-currency issuer default rating at 'BBB' with a stable outlook, citing modest government debt levels, "robust" external buffers and still-strong medium-term growth prospects. Read more »

Palace says to 'disprove' that Philippines will lag in COVID-19 recovery

Jamaine Punzalan, ABS-CBN News
Posted at Jan 07 05:01 PM

Malacañang said on Thursday it would "disprove" a debt watcher's forecast that the Philippines would be among the last in Asia-Pacific to recover from the economic recession that the COVID-19 pandemic caused. Read more »

Government debt hits P10.13 trillion in end-November

ABS-CBN News
Posted at Jan 06 04:36 PM

Since January last year, domestic debt has increased by P2.06 trillion or 40.3 percent, while foreign debt increased by P338.44 billion or 13 percent. Read more »

PhilHealth to pay P265 million to Red Cross this week

ABS-CBN News
Updated as of Jan 06 11:13 AM

State insurance agency PhilHealth will pay the Philippine Red Cross about a quarter of its dues this week as it waits for some claims that were found to be deficient, a spokesman said Wednesday. Read more »

World Bank sees more countries in 'deep debt distress' this year

Reuters
Updated as of Jan 06 10:57 AM

Chad and several other countries are already in deep debt distress and more will join their ranks this year, given the severity of the global recession triggered by the COVID-19 pandemic, World Bank Group President David Malpass said. Read more »

PhilHealth's debt to PH Red Cross balloons to nearly P1B again: Gordon

Katrina Domingo, ABS-CBN News
Updated as of Jan 04 04:37 PM

The Philippine Red Cross (PRC) on Monday said the Philippine Health Insurance Corp's (PhilHealth) debt to the organization has ballooned to nearly P1 billion for the second time after the state insurance firm failed to settle payments shortly after each test. Read more »

Pagpangalan sa ilang posibleng dawit sa DPWH corruption pinuna

ABS-CBN News
Updated as of Dec 29 07:46 PM

Pinuna ng civil society groups ang paglalahad ni Pangulong Duterte sa listahan ng ilang dawit umano sa korupsiyon.  Read more »

China Bank subsidiary says arranged nearly P150-B in debt securities in 2020

ABS-CBN News
Posted at Dec 28 05:23 PM

China Bank's investment house subsidiary said Monday it arranged nearly P150 billion in debt capital market deals this year as firms sought funding to sustain operations and expansions. Read more »

UnionBank thrift arm CitySavings issues P5-B notes to expand loan portfolio

ABS-CBN News
Posted at Dec 22 04:24 PM

CitySavings, the thrift bank arm of UnionBank, has issued P5 billion of corporate notes to expand its loan portfolio, refinance its maturing debts, and for other corporate requirements. Read more »

Philippines seeks $325-million ADB loan for coronavirus vaccines

Jamaine Punzalan, ABS-CBN News
Updated as of Dec 21 04:52 PM

The Philippines is looking to borrow $325 million or around P15.6 billion for the procurement of vaccines against the novel coronavirus from the Asian Development Bank, its representative said on Monday. Read more »

Asset sale slashed debt in half, ‘derisked’ business: Roxas Holdings

ABS-CBN News
Posted at Dec 18 09:38 AM

The sale of Roxas group's assets was able to pay off half of its debt in a move to derisk its business, it said on Thursday. Read more »

AboitizPower to raise P30B in bonds under shelf registration program, to issue first P8-B tranche in Q1 2021

ABS-CBN News
Posted at Dec 15 11:36 AM

Aboitiz Power Corp said Tuesday its board of directors approved P30 billion fundraising through retail bonds. Read more »

PH debt breaches P10-T mark in end-October

ABS-CBN News
Updated as of Dec 04 04:38 PM

The national government's total outstanding debt reached P10.03 trillion at the end of October, the Bureau of Treasury said on Friday. Read more »

PhilHealth debt to Red Cross hikes to P623 million - Gordon

Trishia Billones, ABS-CBN News
Updated as of Dec 02 10:52 AM

State insurance agency PhilHealth owes the Philippine Red Cross some P623 million for COVID-19 testing as this amount balloons per day, the humanitarian organization's chief said Wednesday. Read more »

How debt consolidation can help you manage your finances

Moneymax.ph
Posted at Nov 26 06:43 AM

Do you feel like you’re drowning in debt? Don’t raise the white flag just yet. Make sure you’ve considered all available options when it comes to paying your debts. Read more »