National Treasurer Rosalia de Leon said there was “strong participation, with today’s auction being the last for T-bills.”
On Monday, De Leon said GSEDs looked for securities to park their funds given P28.6 billion in maturing debt paper, including the P6.6 billion in one-year premyo bonds sold last year. As debt accumulation outpaced economic growth during the first nine months, debt-to-GDP — which reflected capability to repay obligations — jumped to a 16-year high of 63.1 percent as of end-September, above the 60-percent threshold deemed by credit rating agencies as manageable among emerging markets like the Philippines.
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