THE government’s debt service bill in May fell 82.7% from a year earlier to P27.41 billion, the Bureau of the Treasury (BTr) said.
Interest payments, which accounted for the bulk of the total, fell 6.8% year on year to P19.67 billion.
Domestic interest payments decreased 15.34% to P15.78 billion from P18.63 billion year on year.
Foreign interest payments, meanwhile, rose 57.21% from a year earlier to P3.89 billion.
Amortization declined by 94.3% to P7.74 billion.
The government made no amortization payments to domestic creditors during the month, while amortization paid to foreign creditors rose 5.2%.
In the five months to May debt service fell 21.7% to P301.43 billion.
Interest payments during the period totaled P150.98 billion, up 6.7% year on year.
Amortization in the first five months accounted for P150.45 billion, down 38.2% a year earlier. — Reicelene Joy N. Ignacio