The Duterte administration’s debt payments went up by more than half in the first three-months of the year owing to higher amortization, data from the Bureau of the Treasury revealed over the weekend.
Based on the Treasury report, the total debt service of the national government reached P521.5 b
State-run Philippine Amusement and Gaming Corp. (Pagcor) said it remitted P1.6 billon in cash dividends to the government coffers in 2020, significantly lower than the P18 billion it turned in in 2019, as revenues from casino operations due to the pandemic.
In a statement, Andrea Domingo, Pa
BusinessWorld
May 14, 2021 | 12:32 am
REUTERS
DEBT SERVICE will likely become a âgreater burdenâ for many emerging economies, including the Philippines, as overall spending will stay high and state revenues remain under pressure, the Institute of International Finance (IIF) said.
âWhile global financing conditions remain strongly supportive, pandemic-related spending increases and revenue losses have made debt service a greater burden for many EMs (emerging markets) including the Philippines, South Africa, India, Indonesia, and Turkey,â the IIF said in its Global Debt Monitor report released on Thursday.
State revenues will continue to be strained amid extended lockdowns and the slow rollout of coronavirus vaccines.
Published May 12, 2021, 5:36 PM
The central bank’s new peso real-time gross settlement (RTGS) platform of the next-generation Philippine Payment and Settlement System (PhilPaSSplus) – which is expected to go live by June this year – will pave the way for a more efficient and safer flow of funds, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
Diokno announced on Wednesday, May 11, that testing for the PhilPaSSplus has started in the first half of the year. “In the first quarter of 2021, the BSP completed its ‘User Acceptance Test’ and kicked off the industry-wide market rehearsal which will conclude in June 2021. The outcome of the market rehearsal is key to determining if the system will go live in June this year,” he said during his virtual press briefing.
Published May 8, 2021, 5:00 PM
The Department of Energy and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) have collaboratively called for greater inflow of investments in the country’s upstream petroleum sector if the Philippines would really have to cement its energy security pathway.
Nevertheless, for this goal to really advance, both government entities sounded off the need for resolution of legal challenges hamstringing investments in the sector – and that shall include a definitive decision on a pending case at the Supreme Court relating to the legal question raised by the Commission on Audit (CoA) on the income tax treatment of the royalty share of the contractor in the Malampaya gas field project.