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News

  • PET dismisses Robredo plea, orders her to pay P15 Mn The Supreme Court (SC) ordered Vice President Leni Robredo to pay the amount needed to retrieve election-related documents needed in her counter-protest against former Senator Ferdinand Marcos Jr. In a press briefing, Theodore Te, the SC spokesperson, said that the court, sitting as the Presidential Electoral Tribunal (PET), rejected the VP’s March 21motion for reconsideration of its earlier decision ordering her to pay the P15-million deposit. On April 12, the PET ordered Mr. Marcos and VP Robredo to pay a total of P81.46 million for their respective electoral protest and counter-protest. Romulo Macalintal, lawyer of VP Robredo, said they have yet to receive a copy of the PET ruling. "However, we respect the decision of PET and would like to reiterate VP Robredo's willingness to comply with her obligation to pay the P8 million for her counter protest," he said, referring to the first tranche of payment.
  • Government borrowings rose almost 5 times to P132.231 billion in February after the issuance of $2 billion worth of global bonds during the month, data from the Bureau of the Treasury (BTr) showed. The February borrowings rose by about 390% from the P26.908 billion recorded in the same month last year. This brought the total borrowings to P171.358 billion during the first 2 months. Of the total amount borrowed in February, P100.569 billion came from external creditors while the remaining P31.662 billion was sourced domestic lenders. The bulk of foreign debt during the period came in the form of global bonds, which reached P99.566 billion. The government raised $500 million worth of fresh 25-year global bonds at a rate of 3.7% and also successfully switched $1.5 billion of previously issued bonds in January.
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