The national government’s outstanding debt slightly declined to P18.47 trillion as of end-April 2026, mainly due to repayments of domestic securities, the Bureau of the Treasury said.
The latest debt stock was lower by 0.09 percent from the P18.49 trillion recorded at the end of March.
The Treasury said the decrease was driven primarily by domestic repayments, which more than offset the impact of the peso’s depreciation against the US dollar on foreign currency-denominated obligations.
Domestic debt accounted for 67.22 percent of the total debt stock, while external borrowings made up the remaining 32.78 percent.
The government’s domestic debt fell to P12.41 trillion, down 0.95 percent from P12.53 trillion at the end of March.
The decline was largely due to a P121.64-billion net redemption during the month, as P283.24 billion in debt issuances was outweighed by P404.88 billion in maturities.
However, the decrease was partly tempered by a P2.46-billion upward revaluation in the peso equivalent of foreign currency-denominated domestic securities due to the weaker peso.
External debt, meanwhile, rose by 1.71 percent to P6.06 trillion from P5.96 trillion in the previous month.
The increase was mainly attributed to foreign exchange revaluation effects, as the peso weakened against the US dollar and other currencies. Revaluation of foreign currency-denominated obligations added P101.72 billion to the external debt stock, while net redemption amounted to P0.08 billion.
National government guaranteed obligations also increased slightly to P383.23 billion as of end-April, up 0.48 percent from P381.41 billion at the end of March.
The Treasury said the increase was driven by the impact of peso depreciation and third-currency movements on external guarantees, amounting to P1.25 billion and P0.62 billion, respectively.
These were partly offset by repayments made by the National Home Mortgage Finance Corporation and the National Power Corporation, which reduced domestic guaranteed obligations by P0.05 billion.
Compared with the P344.57 billion recorded at the end of December 2025, national government guarantees were higher by 11.22 percent.