B U R E A U O F T H E T R E A S U R Y

ANNUAL REPORT CY 2011

BTr: Committed to the attainment of rapid, inclusive and sustained economic growth C o n t e n t s

1 Letter to the President 2 BTr Mandate 4 The Report of the Treasurer of the

STATISTICAL TABLES 17 Table 1. Assessment of BTr Income Performance 18 Table 2. Assessment of Cash Budget Performance 19 Table 3. Assessment of Debt Service 20 Table 4. NG Asset Position 21 Table 5. NG Cash Balance 22 Table 6. NG Outstanding Debt 23 Table 7. Interest Rate on Treasury Bills 24 Table 8. Regional Office Operations 25 Table 9. Debt Indicators 31 Directory of Officials

His Excellency President BENIGNO C. AQUINO III Malacanang Palace Manila

Dear Mr. President:

On behalf of the officials and employees of the Bureau of the Treasury (BTr), I am honored to submit to Your Excellency the 2011 Annual Report of the Bureau.

This report highlights the significant achievements of the Bureau in support of the administration’s thrust for rapid, inclusive and sustained economic growth while the nation threads through the narrow and straight path or “matuwid na daan.”

Rest assured that the entire BTr Family is behind the strong leadership of your Excellency in your quest for effective, honest and transparent governance towards the country’s economic progress and development.

Very truly yours,

ROBERTO B. TAN Treasurer of the Philippines

June 30, 2012

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BTR Mandate

Under Executive Order No. 449:

 Assist in the formulation of policies on borrowing, investment and capital market development;

 Formulate adequate operations guidelines for fiscal and financial policies;

 Assist in the preparation by government agencies concerned of an annual program for revenue and expenditure targets, borrowing levels and cash balances of National Government;

 Maintain books of accounts of the cash transactions;

 Manage the cash resources, collect taxes made by NG and guarantee forward cover fees due NG, control and service its public debt, both foreign or domestic;

 Issue, service, redeem government securities for the account of NG as may be authorized by the President pursuant to law;

 Administer the Securities Stabilization Fund by purchase and sale in the open market of government bills and bonds to increase the liquidity and stabilize the value of said securities in order to promote private investment in government securities;

 Act as principal custodian of financial assets of the NG, its agencies and instrumentalities;

 Bond all accountable public officials and employees pursuant to the provisions of the Public Bonding Law and issue appropriate guidelines therefore; and

 Perform such other related functions as may be assigned to it by competent authorities.

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Under Republic Act No. 245 as amended by Presidential Decree No. 142; Republic Act No. 1000:

 Certify allowable debt and guarantee.  Manage contributions to the Bond Sinking Fund and the fund itself.

Under Republic Act No. 38944:

 Manage the Assurance Fund for the redemption of Land Reform Bonds.

Under Republic Act No. 6657:

 Manage the Agrarian Reform Fund.

Under Executive Order No. 739 and Republic Act No. 8250:

 Offset from the budgetary support to GOCCs their corporate cash dividend under R.A. 7656, guarantee fees, advances for loans relent to GOCCs as well as for obligations which are guaranteed by the NG and other valid receivables of NG.

Under Republic Act No. 3936 as amended by Presidential Decree No. 679:

 Initiate legal proceedings for escheat of unclaimed balances in favor of the government.

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THE REPORT OF THE TREASURER OF THE PHILIPPINES

In pursuance of the President’s extension of average maturity of accepted Social Contract with the Filipino People, the bonds from 5.48 years to 18.01 years. Bureau of the Treasury (BTr) directed its efforts in the year 2011 towards having the The bond swap transaction also required financial resources to enable the established new benchmarks for long-term Benigno Aquino government to deliver the financing to promote public-private desired results which lead to direct, partnerships (PPP) for more infrastructure immediate and substantial improvements in projects that are expected to bring about the lives of our countrymen. Under the more employment opportunities in the priority area on rapid, inclusive and country. The Republic set coupon rates for sustained economic growth, the Bureau the Long 10-year and 20 year Benchmark issued 10 and 20 years benchmark bonds on Bonds at 6.375% and 8.000%, respectively. July 19, 2011 in a bond exchange worth These bonds together with the 25-year bonds P323.454 billion. It is the second domestic issued in December 2010, serve as bond exchange under the Aquino benchmarks for long-term financing in line Administration and the Republic of the with government initiatives to promote PPP Philippines’ largest domestic bond swap in infrastructure projects and the transaction. development of capital markets.

The bond swap is part of the The Bureau also raised funds for the domestic debt consolidation program of the government through its retail treasury bond Republic to smoothen its debt maturity (RTB) program. Under this program, BTr profile, extend the maturity of existing peso issued on March 3, 2011 RTB Tranche 13 liabilities and establish liquid benchmarks at consisting of 5-year and 10-year bonds from the long end of the yield curve. The which the government raised a total of transaction substantially reduces the P103.967 billion. Then on October 20, bunching of the Republic’s debt maturities, 2011, the government raised a total of particularly in the medium term and P110.097 billion from the issuance of RTB significantly mitigates its refinancing risk. Tranche 14. Of the said amount, P54.953 billion came from the sale of 10-year and The transaction achieved cashflow P55.144 billion was for 15-year RTBs. and debt service relief in the medium term, which the Republic may channel to its infrastructure and socio-economic projects. Following are the other The bond swap extended the average accomplishments of the Bureau from its maturity of the portfolio of eligible bonds by operations for the year 2011: 37.9% or approximately 2.08 years with the

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Income Performance

Amid the financial challenges that P157.621 billion non-tax revenues, 47.73% greatly hampered the revenue generating was raised by the Bureau through its performance of major collecting agencies of operation as well as its continuous resolve to the National Government, the Bureau of the collect NG income that should be remitted Treasury has consistently manifested that it to the Bureau. can be a potent contributor of funds to the national coffers. This is evident in its Interest income on NG deposits performance for the year when it actually totalled P2.033 billion; interest on advances generated an income of P75.236 billion, to government-owned and controlled representing 7.5% excess over the program corporations (GOCCs) reached P1.036 level of P69.996 billion. billion; fidelity bond premia totalled P526 million; guarantee fee was P2.533 billion This commendable feat can be while foreign exchange risk cover fee attributed to hard work and very clear policy amounted to P1.590 billion. Another major directions set by His Excellency, President source of BTr income during the year is the Benigno Aquino III and Department of interest earned from investment of Bond Finance Secretary Cesar Purisima, and to the Sinking Funds (BSF) and Securities Bureau’s resolve not only to achieve its Stabilization Funds (SSF). Total earnings income target but to maintain its ranking as from these funds in CY 2011 amounted to the third biggest revenue earner of NG. The P25.374 billion. effective and prudent management of government cash resources translated to Likewise, a significant portion of the interest income. Furthermore, because of NG income collected by BTr for CY 2011 the BTr’s intensive campaign for the banks totalling P41.783 billion was generated to remit unclaimed balances and its close from P28.706 billion dividends on shares of coordination with the Office of Solicitor stocks, P1.167 billion NG share in MIAA General, Prosecutor’s Office and the Courts, profit and NG shares from PAGCOR the Bureau was able to collect P12.648 income and airport terminal fees in the million representing escheated unclaimed amounts of P11.437 billion and P473 balances from January to December 2011. million, respectively.

The Bureau not only acts as principal custodian of all financial assets of the national government, its agencies and instrumentalities but also manages the cash resources of NG. This is done by investing idle funds in higher yielding instruments. Cash is managed in pooled investment funds to maximize interest earnings. Of the total

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Savings in Interest Payments

Interest payments for the year totalled P278.996 billion, of which P170.476 billion or 61.10% were used to service domestic liabilities while the remaining P108.520 billion or 38.90% were interest paid on foreign obligations. Compared to the P321.597 billion program for the year, the national government realized huge savings of P42.601 billion due to lower actual than assumed interest rates and lower volume of domestic securities issued vis-à-vis programmed borrowings for the year 2011.

Interest Rate Movements

Still consistent with the thrust of the Pilipinas, the Bureau, as Vice-Chairman of government to have a low and stable interest the auction committee, has been a rate, the average 91-day Treasury bill rate contributory factor to the decline in interest for the year was at 1.482%, lower than the rate for the year 2011. BTr has been assumed rate of 6.000%. The average transparent in its borrowing program and interest rates for 182-day and 364-day T- held regular consultations with Government bills were 1.810% and 2.373%, respectively. Securities Eligible Dealers (GSEDs) during the year, which resulted in low, stable Although interest rate policy is interest rate. within the purview of the Bangko Sentral ng

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Cash and Other Asset Management

Committed to its primary role of cash. The Cash Flow Committee conducts ensuring the availability of cash resources to weekly meetings to determine shorter term support NG’s funding requirements, BTr calculation of cash availability to meet the continued to strengthen its cash management requirements of the National Government. activities. Prudent management of NG’s The Bureau anticipates the cash needs of the cash resources resulted in the generation of NG and ensures that payments of NG P25.374 billion income from BSF/SSF obligations, including NG debt and other investments and the remittance of P28.706 expenses, are made in a timely manner. It billion dividends on shares of stocks, then invests temporary excess funds and representing major contributions to total BTr optimize its profitability to augment the income. income of the government.

For CY 2011, total interest earned Likewise, a market surveillance from NG deposits amounted to P2.033 mechanism monitored interest rates and billion which is 6.08% of the total BTr foreign exchange rates daily to optimize the income generated. Interest income from earnings of the NG’s portfolio. The Bureau deposits with Bangko Sentral ng Pilipinas continued to lend valuable assistance (BSP) for CY 2011 was P203 million more through the preparation of technical papers, than the actual interest earned in CY 2010. such as Fiscal Programs and Estimates on Compared to program for CY 2011, NG Budgetary Financing. BTr also however, interest income from deposits with provided technical support to DOF officials Bangko Sentral ng Pilipinas (BSP) as well during congressional deliberations on the as interest earned from deposits with other CY 2012 NG budget. Authorized Government Depository Banks (AGDBs) were significantly lower than the As member of the Government programmed level for the year mainly due to Integrated Financial Management lower cash balances maintained by NG with Information System (GIFMIS) Committee, them. Interest income from deposits with BTr, together with the Department of BSP was lower by 18.10% to P1.443 billion Finance, has been coordinating with the as against the P1.762 billion program for the other key oversight agencies of the year, while the P590 million interest earned government namely, the Commission on from deposits with other AGDBs was also Audit (COA) and the Department of Budget lower by 37.63% compared to P946 million and Management (DBM) in preparation for full year program. the proposed Public Fiscal Management reform projects, particularly on Treasury For effective cashflow management Cash Management Operations. GIFMIS is which enables it to anticipate the cash needs defined as “a customized and integrated of NG, BTr monitors and projects daily, application or automation of monthly, quarterly inflows and outflow of

7 financial operations of the national Modified Disbursement System (MDS) government particularly financial planning totalled P1,156.094 billion for CY 2011 and budgeting, treasury, and accounting functions.” This will eventually generate The Bureau is also tasked to reliable and accurate reports in a timely undertake the bonding of accountable manner for the use of government decision government officials/employees pursuant to makers and the scrutiny of the public. This the provisions of the Public Bonding Law. is, of course, in support of the President’s This function has been decentralized to the Social Contract with the Filipino people regional offices since 1996. Total bond which promotes transparency, accountability premium collections for CY 2011 reached and good governance. P526 million. Total number of bonding applications approved reached 154,723 with BTr’s regional offices coordinated risk coverage of P34.227 billion. with various national collecting officers (NCOs) and local treasurers (LTs) to effect As custodian of government funds, the prompt deposit of revenue collections to the total balances maintained by the Bureau Authorized Government Depository Banks in the Bangko Sentral ng Pilipinas (BSP) (AGDBs). Total monitored revenue and Authorized Government Depository collections deposited during the year Banks (AGDBs) amounted to P188.531 amounted to P170.929 billion. On the other billion, which was P79.665 billion lower hand, monitored expenditures under the than last year’s level of P268.196 billion.

Debt Management

The Bureau of the Treasury is Contingent debt consisting of debts responsible for the prudent management of guaranteed by the NG amounted to foreign and domestic obligations of the P573.372 billion as of December 2011, government as well as the prompt servicing higher by P23.564 billion from end- of said liabilities. As of December 2011, the December 2010 level. The bulk came from National Government debt increased by foreign obligations comprising 73% or 4.94% or P233.017 billion from end- P415.785 billion. December 2010 level. Total outstanding debt stood at P4.951 trillion of which, The Bureau takes charge of the P2.078 trillion or 41.97% is owed to foreign primary sale of Treasury Bills and Bonds creditors and P2.873 trillion or 58.03% to through electronic auction. For the year domestic creditors. Total NG debt is 2011, a total of P181.926 billion worth of composed of 5.96% in short-term liabilities, regular T-bills and P348.942 billion worth 11.40% in medium-term and 82.64% in of T-bonds were sold through auction via long-term liabilities. the Automated Debt Analysis System (ADAPS), tap and over-the counter (OTC)

8 facility. It also sold RTBs worth P214.064 P323.454 billion bond swap and established billion and Benchmark Bonds worth new long 10-year and 20-year benchmark P326.505 billion during the year. bonds during the year. It is the second domestic bond exchange under the Aquino The RTBs issued during the year Administration and the Republic’s largest were component parts of RTB Tranche 13 domestic bond swap transaction. A total of and 14. Under the RTB program, BTr P299.436 billion of Eligible Bonds were issued on March 3, 2011, BTr RTB Tranche submitted pursuant to the Exchange Offer, 13 consisting of 5-year and 10-year bonds of which P69.521 billion and P229.915 from which the government raised P33.009 billion were submitted and exchanged into billion and P70.958 billion, respectively, or new long 10-year and new 20-year a total of P103.967 billion. Of the total benchmark bonds, respectively. The bond amount, P20.0 billion was sold to GSEDs swap is part of the liability management through Dutch auction, P38.979 billion was program of the Republic to smoothen its subscriptions received by the selling agent debt maturity profile, extend the maturity of during the public offering period and existing peso liabilities and establish liquid P44.988 billion was sold through the benchmarks at the long end of the yield Bureau’s over-the-counter window. curve. The transaction achieved cashflow For RTB Tranche 14, the and debt service relief of P152.6 billion in government raised a total of P110.097 the medium term, which the Republic may billion from the sale of 10- and 15-year channel to its infrastructure and socio- RTBs amounting to P54.953 billion and economic projects. P55.143.96 billion, respectively. Of the total amount, P20.0 billion was sold to GSEDs Finance Secretary Cesar through Dutch auction last October 10, V.Purisima hailed the success of the 2011, P31.46 billion was subscription transaction, saying “The success of this received by the selling agents during the bond exchange will further strengthen the public offering period and P5.643 billion fiscal position of the Republic as short and was sold to GOCCs thru the Bureau’s over- medium term debt will be swapped for the counter window. The remaining P5.3 longer dated securities. It also affirms the billion was sold to BSF to secure NG’s growing investor confidence in the country’s maturing obligations covered by sinking long term prospects.” fund. As part of its liability management exercise, BTr repurchased ROP Global Joint Deal Coordinators for the Bonds worth about USD1.480 billion and bond exchange are state-run Development EUR109.700 million. Bank of the Philippines and Land Bank of the Philippines. Together with BPI Capital Under its domestic debt Corporation, Citicorp Capital Philippines, consolidation program, the Republic of the Inc., First Metro Investment Corporation Philippines successfully completed and SB Capital Investment Corporation, the

9 six institutions comprise the consortium of Management and Financial Analysis System Joint Deal Managers for this year’s bond (DMFAS) from version 5.3 to 6.0. It is an exchange. activity under the Sub-Project 1 – Debt Management, of the 3-year technical co- The Bureau’s Scripless Securities operation between BTr and UNCTAD. Registry Division (SSRD) registered in the Tasks undertaken include the conversion of Registry of Scripless Securities (RoSS) 5.3 database to version 6 format, validation database a total of 140,874 transactions, of the converted database on aggregates which include sale/purchase of government basis, installation of version 6 and the securities (GS), tap, auction, maturities, converted data base, conduct of DMFAS 6 earmarking, unearmarking, pledge, and functional training for 11 DMAD Staff pledge release with the aggregate amount of current users and 29 new users consisting of P9.981 billion arising from the secondary 19 from different units of BTr, 6 from DOF market trading of GS. It also settled via and 4 from COA, and started testing/using Bangko Sentral ng Pilipinas (BSP) real-time DMFAS 6 in parallel with version 5.3. gross settlement (RTGS) a total of 29,077 transactions with face value of P3.370 billion. During the year, SSRD processed 17 new RoSS participants, which include banks, insurance companies, tax-exempt institutions and other financial institutions. Finally, it collected a total of P10.043 million as RoSS maintenance fees from member-participants via RDDA (BSP) and checks.

On strengthening debt management Debt service payments for the year in the Bureau, the Debt Monitoring and 2011 amounted to P722.750 billion, about Analysis Division (DMAD) coordinated 39% of which were for interest payments with the United Nations Conference on while those for principal payments Trade and Development (UNCTAD) and constituted about 61%. Management Information Systems Service (MISS) on the upgrading of Debt

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NG Cash Operations

The Bureau is mandated to account and monitor all receipts and disbursements of all funds of the National Government. For CY 2011 the fiscal deficit of NG stood at P197.754 billion, registering an over performance of P102.246 billion compared with the program of P300.0 billion and P116.704 billion improvement over the P314.458 billion deficit level for CY 2010. It is equivalent to 2.0% of GDP and better than the 3.5% in 2010. Netting out the interest payments in the expenditures, however, the NG recorded a primary surplus for the year amounting to P81.242 billion. For the full year of 2011, the Bureau accounted for a total of P1,359.942 billion revenue collections, which is P102.246 billion lower than program. It grew by 12.6% compared to last year’s P1,207.926 billion. While the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) registered a growth of 12.34% and 2.26%, respectively compared to the same period last year, these agencies missed their full year target by P15.854 billion and P54.892 billion, respectively in CY 2011. This was partially offset by the over performance of the Bureau of the Treasury and Other Offices, which exceeded their target by P5.240 billion and P14.144 billion, aggregate amount of P1,202.066 billion, respectively. The sharp increase in the posting a 9.91% increase over the revenue of Other Offices was due to the P1,093.643 billion collected in CY 2010. Of collection of motor vehicle user’s tax the total tax revenues generated, 76.88% or amounting to P10.100 billion. P924.146 billion was attributed to the Bureau of Internal Revenue (BIR), 22.05% Total revenues consist of tax or P265.108 billion to the Bureau of collections and non-tax revenues. Tax Customs (BOC) and 1.07% or P12.812 collections contributed 88.39% with an billion to Other Offices.

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Non-tax revenues, which include the billion for the year, actual expenditures income of BTr, grants and proceeds from were lower by P153.608 billion. This was privatization of government assets amounted mainly the result of cautious spending to to P157.621 billion. This commendable ensure that public funds are appropriately performance is largely attributed to efficient spent for the optimum benefit of the people. management of investible funds which Of the total government spending, P278.996 generated P25.374 billion income from billion pertains to interest payment which investments, P28.706 billion dividends on was P42.601 billion lower than the projected shares of stocks and P2.003 billion interest P321.597 billion. on NG deposits. Financing transactions resulted in a Total expenditures, on the other net borrowing of P115.263 billion. Net hand, reflected a 2.27% growth from external borrowings reached P51.160 billion P1,522.384 billion in CY 2010 to while net domestic borrowings amounted to P1,557.696 billion in CY 2011. Compared P64.103 billion. to the programmed level of P1,711.304

Support Services

The Bureau of the Treasury supports a administration demonstrated, BTr focused sound public financial management system its strategic planning conference for the year which helps government decision makers in 2011 in the discussion of proposed projects performing their functions effectively, under the Financial Sector Stabilization efficiently and economically. Towards this Program (FSSP) most of which are meant to end, BTr officials who are members of the automate the Bureau’s processes. Among GIFMIS Committee worked hand in hand these projects are the Accounting System, with high-level officers of COA, DBM and Network Infrastructure Implementation for DOF in coming up with Public Financial Ayuntamiento Building, WEB Portal Management Reform Roadmap. Among the Equipment System, Equipment Processing benefits from the GIFMIS is in facilitating System, Document Management System, e- cash management where accurate data on Budget and e-NGAS, Economic Forecasting bank account balances, revenue and cash with Eviews 7.0, Administrative System, positions and fund utilization can provide Treasury Management System, Enhanced fiscal managers with a reliable basis for cash Legal Information System (Phase 2), Field flow forecasting, short-term financing, and Operations System, and the Business maintain appropriate daily cash balances. Continuity Plan-Disaster Recovery Plan. To cap the planning conference, teambuilding Inspired by the qualities of honest and fellowship activities were also held in and transparent governance that the new Lipa, Batangas on March 26, 2011.

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For organizational responsiveness and safer working environment for the and effective management control, the Bureau. Bureau provided sound internal auditing and other control measures. Adequate internal Administrative and other support security services were provided to ensure services were efficiently rendered for the safety for its personnel and material assets. smooth operations of the BTr. The various pre- and post-audit inspections Housekeeping concerns such as the periodic and evaluation as well as the physical maintenance of lighting, water, telephone inventories of office supplies and materials and transportation facilities were properly have resulted in a more prudent use of the addressed while awaiting transfer to the Bureau’s resources. For CY 2011, 147 soon-to-be-completed Ayuntamiento leave credit ledgers/cards of BTr personnel Building. at the Central Office and Field Offices were Preparatory to the implementation of audited and validated for accuracy. Strict government public financial reforms, BTr inspection on the delivery of supplies and officials were sent to the following foreign equipment of various suppliers was conferences, seminars, forum, meetings, and implemented to ensure that the delivered study tours during the year: Exposure visit items conformed to the right specifications. to the Ministry of Finance (Agence France For this purpose, 123 line items from the Tresor) and the Bangue de France, in Paris, Procurement Service and 351 line items France, upon the invitation of the Economic from various suppliers with a total amount Department f the Embassy of France in the of P1.271 million and P16.172 million, Philippines; Sub-Sovereign Finance Forum respectively were inspected. Pre-repair on Debt, Insolvency and Market-Lessons inspections were also conducted on 102 Learned and Emerging Issues in Washington requests by concerned end-users for repair DC, U.S.A.; Meetings with Representatives of office vehicles, equipment and other from International Legal Counsels and with properties of the Bureau. Likewise, post- Officials from the Hong Kong Monetary inspection was done to ensure that the repair Authority; IMF-World Bank Annual was properly undertaken and that right spare Meeting and the meeting/discussions with parts were installed. In the case of officials of International banks held in purchases, 107 transactions with a total Washington DC and New York City, amount of P2.392 million were also post- U.S.A.; Study Tour on the Russian GIFMIS inspected to make sure that they met the Treasury Single Account in Moscow, right specifications. On the other hand, Russia; 8th ASEAN Finance Ministers’ stringent security measures and the strict Investor Seminar conducted in Jakarta implementation of various office security Indonesia; 8th Debt Management Conference policies to deal with numerous security and meeting of the Debt Management and challenges both internal and external Financial Analysis System (DMFAS) contributed heavily towards a more secured Advisory Group as well as the General Assembly and activities of the World

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Association of Debt Management Offices on DMS-KMT 37th Special Colloquium for (WADMO) in Geneva, Switzerland; People Managers: Turning a Global Implementing Government Debt Principle into Local Practice; Product Management Strategies Workshop in Awareness Seminar; Cross-Products Washington DC, U.S.A.; and the 6th Derivatives Intensive Workshop; Training Meeting of ASEAN+3 Bond Market Forum on Windows 7, and Microsoft Office 2010 (ABMF) held in Beijing, China. Applications (Word, Excel, and Powerpoint); FMIS Training Course: FMIS In its continuing effort to 101 for the Philippine Team; ICT Resources professionalize and promote human Acquisition (ICTRA); Training on Debt resources development, the Bureau’s Management and Financial Analysis System officers and employees were sent to the 6.0 (DMFAS 6.0); 11th Visayas Convention following seminars, trainings, workshops of Regional Executives and Resident and conferences held locally during the year: th Ombudsmen; Implementing Security Using 2011 Biennial Convention and 50 COBIT Workshop; 3rd Finance Asia Anniversary Foundation of the National Corporate Treasury and CFO Summit; 2nd League of Philippine Government Nurses; Quarterly Membership Meeting and Seminar Evaluation and Pre-Strategic Planning of the Philippine Association for Conference; Lighting Workshop; First Government Budget Administration Philippine Lighting Conference-Manila (PAGBA). Inc., with the theme “Promoting 2011; Seminar on Cash Flow Management; Government Credibility in Partnership with Seminar-Workshop on Digitization and Civil Society Organizations”; 3-Day Document Management; Seminar-Workshop Training on “PC Repair, Upgrading, on Republic Act No. 9470 (National Assembly and Networking”; Seminar- Archives Act of the Philippines of 2007) and Workshop on Coaching, Mentoring, and Records Disposition Administration; BTr- Succession Planning; GIFMIS (Track 1 and Strategic Planning Conference for 2011; 2) Implementation Planning Workshop; Seminar-Workshop on Records and Seminar-Workshop on Women Economic Archives Counter Disaster Planning; 2011 Empowerment (WEE) Indicators; Regional Region IV-B Strategic Planning Conference; th th Operations Mid - Year Assessment; AGIA 13 National Convention of Lawyers; 14 Annual National Convention cum Seminar Session of “Salamin-Diwa ng Paglilingkod”; with the theme “Global Challenges: AGIA Planning and Training Workshop of the Responsive, Organized, Competent, Government Electronic Payment and Knowledgeable, Sensitive”; Management Collection System Evaluation Team Program for e-Governance (MPeG); (GEPCSET); Managing ICT Services in Seminar-Workshop –Tagumpay sa Isip at sa Government – ITIL Framework; Mandatory Gawa; 3-day Competency-Based Training Continuing Legal Education (MCLE) on HRM in the Public Sector; 89th Lecture Series; Government Association of Foundation Anniversary, 54th Nurses Week Certified Public Accountants (GACPA)’s Celebration, and 2011 Annual National 33rd Annual National Convention; Seminar

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Convention of the Philippine Nurses Knowledge Sharing Program Meeting with Association, Inc.; 10th National Career the Koreans Public Finance Officers; Executive Service Conference; Proficiency General Assembly Meeting and 3rd Training/Target Practice; 2D Animation Quarterly Seminar with its theme: Course; Competency - Based Training on “Promoting Government Credibility in HRM in the Public Sector; Workshop on Partnership with Civil Society Harmonization of PFM Terminologies and Organizations”; Management Development Reporting Formats and Validation PFM Course; and PhilGEPS Training on the use Manual; Seminar on Values: Critical of Virtual Store (Phase 2). Components of Enhanced Performance;

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The Bureau of the Treasury had a very simple celebration of its 114th founding anniversary. It was celebrated with a Thanksgiving Mass officiated by Rev. Fr. Chito Bartolo, OFM Cap, on November 4, 2011 at the BTR Convention Hall. Lunch reception followed in the employees’ respective Services/Divisions/Units.

Metropolitan Bank & Trust Company; Bank of the Philippine Islands; Land Bank of the Philippines; Standard Chartered Bank; Rizal Commercial Banking Corporation; BDO Unibank; and Security Bank.

Finally, the Bureau of the Treasury joined the whole nation in the joyous celebration of the birth of Jesus Christ. The officials and

employees of the Bureau were one in praising On December 20, 2011, the annual God in the Thanksgiving Mass on December 20, recognition of the best performing Government 2011, which kicked-off the Christmas Securities Eligible Dealers (GSEDs) was held. celebrations. In the afternoon of the same day, The awards were given at a simple gathering BTr Central Office personnel were treated to a dubbed “Breakfast with the Treasurer” attended fun-filled Christmas program entitled “BTr Got by managers and executives of the top ten Talent…Show Mo sa Pasko!” On the next day, GSEDs. For this year, GSEDs’ performance in BTr had its Christmas with the children aptly the auction of government securities in the dubbed “Family Day”, where the kids enjoyed primary market only was evaluated for awarding delicious food, parlor games, singing, dancing purposes. Deutsche Bank won as the Best and gifts galore in cash and in kind. BTr field Performing GSED. The other nine top offices celebrated Christmas in their own jolly performers were: Citibank, N.A.; Hongkong and ways. The Bureau ended the year with so much Shanghai Bank, Inc.; joys and new hopes for the coming year.

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Table 1

ASSESSMENT OF BTR INCOME PERFORMANCE (In Million Pesos)

Actual Program Difference Actual Actual vs 2010 2011 2011 2011 vs 2010 Program

A. BTR Income 30,864 33,453 34,235 2,589 -782

1. Interest Income on NG Deposits 2,224 2,033 2,708 -191 -675 BSP 1,240 1,443 1,762 203 -319 Other Banks 984 590 946 -394 -356 2. Interest on Advances to GOCCs 159 1,036 710 877 326 3. Income from BSF/SSF/Investments 23,816 25,374 23,963 1,558 1,411 4. Guarantee Fee 2,389 2,533 4,079 144 -1,546 5. Foreign Exchange Risk Cover Fee 1,112 1,590 1,910 478 -320 6. Interest Income on Bond Holdings 12 12 0 0 12 7. Government Service Income 1,152 875 865 -277 10 a. Fidelity Bond Premia 520 526 125 6 401 b. Subscription Fee - RoSS Participants 10 10 10 0 0 c. Escheat of Unclaimed Balances 18 13 10 -5 3 d. Service Fee on Relent Loans 227 263 720 36 -457 e. Others 377 63 0 -314 63

B. NG Income Collected by BTR 23,451 41,783 35,761 18,332 6,022

1. Dividend on Shares of Stocks 12,013 28,706 23,799 16,693 4,907 2. NG Share in Airport Terminal Fee 476 473 300 -3 173 3. NG Share in PAGCOR Income 10,343 11,437 10,940 1,094 497 4. NG Share in MIAA Profit 619 1,167 722 548 445

C. TOTAL INCOME 54,315 75,236 69,996 20,921 5,240

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Table 2

ASSESSMENT OF NG CASH BUDGET PERFORMANCE (In Million Pesos)

Actual Program Difference Actual Actual vs 2010 2011 2011 2011 vs 2010 Program

REVENUES 1,207,926 1,359,942 1,411,304 152,016 -51,362

BIR 822,623 924,146 940,000 101,523 -15,854 BOC 259,241 265,108 320,000 5,867 -54,892 BTr Income 54,315 75,236 69,996 20,921 5,240 Others 71,747 95,452 81,308 23,705 14,144

EXPENDITURES 1,522,384 1,557,696 1,711,304 35,312 -153,608 of which: Interest Payments 294,244 278,996 321,597 -15,248 -42,601

SURPLUS/(-)DEFICIT -314,458 -197,754 -300,000 116,704 102,246

FINANCING 351,646 115,263 312,285 -236,383 -197,022 External Borrowings (net) 133,048 51,160 -463 -81,888 51,623 External (gross) 257,357 194,319 191,855 -63,038 2,464 Less: Amortization 124,309 143,159 192,317 18,850 -49,158 Domestic Borrowings (net) 218,598 64,103 312,748 -154,495 -248,645 Domestic (gross) 489,844 364,698 639,019 -125,146 -274,321 Less: Amortization 271,246 300,595 326,271 29,349 -25,676

CHANGE IN CASH 37,166 -79,665 2,844 -116,831 -82,509 Non-Budgetary -22 2,826 -9,441 2,848 12,267 Budgetary 37,188 -82,491 12,285 -119,679 -94,776

18

Table 3

ASSESSMENT OF NG DEBT SERVICE (In Million Pesos)

Actual Program Difference Actual Actual vs 2010 2011 2011 2011 vs 2010 Program

INTEREST PAYMENTS 294,244 278,996 321,597 -15,248 -42,601

Domestic 175,673 170,476 202,295 -5,197 -31,819 Regular 175,673 170,476 202,295 -5,197 -31,819 Assumed 0 0 0 0 0

Foreign 118,571 108,520 119,300 -10,051 -10,780 Regular 118,571 108,520 119,299 -10,051 -10,779 Assumed 0 0 1 0 -1

PRINCIPAL PAYMENTS 395,555 443,754 518,587 48,199 -74,833

Domestic 271,246 300,595 326,271 29,349 -25,676 Regular 271,246 300,595 326,271 29,349 -25,676 Assumed 0 0 0 0 0

Foreign 124,309 143,159 192,317 18,850 -49,158 Regular 124,297 143,143 192,302 18,846 -49,159 Assumed 12 16 14 4 2

Total 689,799 722,750 840,185 32,951 -117,435 Domestic 446,919 471,071 528,566 24,152 -57,495 Foreign 242,880 251,679 311,617 8,799 -59,938

*Breakdown of totals may not sum up due to rounding

19

Table 4

NG ASSET POSITION (In Million Pesos)

Increase/ 2010 2011 (-)Decrease

CASH IN BANKS 267,467 187,802 -79,665

SECURITIES PORTFOLIO 170,450 183,338 12,888 Land Bank Bonds 7 6 -1 US Treasuries-Phil. Brady Bonds 728 728 0 Equity Investment 169,715 182,604 12,889

BOND SINKING FUND 665,542 773,075 107,533

SECURITIES STABILIZATION FUND 2,696 2,889 193

SPECIAL GUARANTY FUND 247 262 15

RECEIVABLES 560,203 446,142 -114,061 Accounts Receivables 423,056 308,563 -114,493 Notes Receivables 137,020 137,020 0 Dividend Receivables 127 559 432

ACQUIRED ASSETS 78,476 74,576 -3,900

GRAND TOTAL 1,745,081 1,668,084 -76,997

20

Table 5

NG CASH BALANCE (In Million Pesos)

Increase/ % 2010 2011 (-)Decrease Change

Bureau of the Treasury 2 22 200 1000.00%

Bangko Sentral ng Pilipinas 152,430 55,530 -96,900 -63.57%

Cash in Foreign Banks 728 728 0 0.00%

Philippine National Bank 74 164 900 121.62%

Philippine Veterans Bank 5,108 1,288 -3,8200 -74.78%

Philippine Amanah Bank 95 0 -950 -100.00%

United Coconut Planters Bank 36,442 33,596 -2,846

Land Bank of the Philippines 41,686 59,074 17,3880 41.71%

Development Bank of the Philippines 29,273 35,150 5,8770 20.08%

Other Banks 2,358 2,979 621 26.34%

TOTAL 268,196 188,531 -79,665 -29.70%

21

Table 6

NG OUTSTANDING DEBT (In Million Pesos)

Increase/ % 2010 2011 (-)Decrease Change

FOREIGN DEBT 1,999,969 2,077,831 77,862 3.89%

NG LOANS 828,715 863,541 34,826 4.20%

Direct Loans 828,689 863,530 34,841 4.20% Availed by Agencies 761,711 798,311 36,600 4.80% Relent to GOCCs 66,978 65,219 -1,759 -2.63% Assumed Loans 26 11 -15 -57.69%

NG SECURITIZED LOANS 1,171,254 1,214,290 43,036 3.67%

DOMESTIC DEBT 2,718,202 2,873,357 155,155 5.71%

Direct Loans 2,715,908 2,871,063 155,155 5.71%

Availed by Agencies 6,807 6,799 -8 -0.12% Government Securities 2,709,101 2,864,264 155,163 5.73%

Assumed Loans 2,294 2,294 0 0.00%

TOTAL 4,718,171 4,951,188 233,017 4.94%

Note: Excludes contingent accounts

22

Table 7

INTEREST RATE ON TREASURY BILLS For the Period Indicated

91-day 182-day 364-day

2010

Jan 3.906 4.143 4.610 Feb 3.928 4.161 4.555 Mar 3.880 4.065 4.407 Apr 3.843 4.029 4.398 May 3.853 4.095 4.492 Jun 3.923 4.135 4.596 Jul 3.971 4.230 4.545 Aug 3.951 4.283 4.539 Sep 3.967 4.309 4.475 Oct 3.738 4.068 4.275 Nov 2.440 2.962 3.093 Dec 0.775 1.650 2.393

Average 3.728 3.965 4.265

2011

Jan 0.700 1.563 2.456 Feb 1.655 2.660 3.154 Mar 1.076 1.775 2.878 Apr 0.790 1.052 2.080 May 1.096 0.950 2.032 Jun 2.684 2.444 3.015 Jul 2.404 2.772 3.236 Aug 2.223 2.632 3.008 Sep 0.484 0.682 1.002 Oct 0.000 0.000 1.750 Nov 0.944 1.140 1.079 Dec 1.556 1.830 0.000

Average 1.482 1.810 2.373

-- no auction

23

Table 8

REGIONAL OFFICE OPERATIONS CY 2010 AND CY 2011 (In Million Pesos)

Deposited Fidelity Monitored Regional National Bond MDS Offices Collections Premia Disbursements

2010 2011 Difference 2010 2011 Difference 2010 2011 Difference

NCR 79,228 116,048 36,820 160 163 3 466,295 549,859 83,564 Region 1 4,862 4,079 (783) 20 23 3 62,352 67,605 5,253 Region 2 2,071 1,893 (178) 19 18 -1 38,881 39,829 948 Region 3 8,392 8,760 368 37 35 -2 84,228 67,525 (16,703) Region 4-A 11,295 8,741 (2,554) 39 41 2 48,813 37,848 (10,965) Region 4-B 727 757 30 15 14 -1 12,381 11,733 (648) Region 5 1,748 1,994 246 38 38 0 48,818 47,359 (1,459) Region 6 3,839 3,551 (288) 27 26 -1 55,742 58,873 3,131 Region 7 5,077 5,553 476 27 29 2 43,968 45,998 2,030 Region 8 1,807 1,899 92 41 37 -4 46,558 42,424 (4,134) Region 9 1,211 1,271 60 23 24 1 36,657 38,246 1,589 Region 10 1,650 1,719 69 16 18 2 39,391 35,350 (4,041) Region 11 9,465 10,872 1,407 20 21 1 31,236 35,910 4,674 Region 12 1,284 1,299 15 27 27 0 47,048 54,639 7,591 Caraga 2,059 2,493 434 11 12 1 20,462 22,896 2,434

TOTAL 134,715 170,929 36,214 520 526 6 1,082,830 1,156,094 73,264

24

6.0%

0.8%

0.4%

-0.5%

-0.2%

82.6%

11.4%

21.3%

29.5%

50.9%

16.1%

22.3%

38.4%

42.0%

58.0%

47,277

100.0%

100.0%

564,510

295,069

Dec

4,091,609

4,951,188

2,077,831

2,873,357

4,951,188

6.0%

0.9%

0.5%

0.7%

-1.3%

82.4%

11.6%

42.2%

57.8%

47,535

100.0%

100.0%

571,671

295,549

Nov

4,065,153

4,932,373

2,082,052

2,850,321

4,932,373

6.2%

0.5%

2.0%

0.6%

-1.3%

82.1%

11.7%

42.1%

57.9%

48,144

100.0%

100.0%

571,478

306,480

Oct

4,020,387

4,898,345

2,062,961

2,835,384

4,898,345

6.8%

2.6%

0.9%

1.6%

-0.2%

81.4%

11.8%

21.9%

29.2%

51.1%

16.7%

22.2%

38.8%

42.9%

57.1%

47,881

100.0%

100.0%

575,646

329,739

Sept

3,965,436

4,870,821

2,089,987

2,780,834

4,870,821

7.1%

0.6%

1.3%

0.8%

1.0%

80.9%

12.0%

42.5%

57.5%

47,979

100.0%

100.0%

575,317

341,255

Aug

3,876,928

4,793,500

2,036,719

2,756,781

4,793,500

7.3%

1.2%

-2.0%

-0.8%

-1.3%

80.6%

12.1%

42.4%

57.6%

47,700

100.0%

100.0%

575,125

345,449

July

3,825,573

4,746,147

2,010,567

2,735,580

4,746,147

CY 2011 CY

7.9%

0.1%

0.5%

0.8%

0.7%

78.0%

14.1%

21.9%

29.5%

51.4%

16.6%

22.3%

38.8%

42.6%

57.4%

47,156

100.0%

100.0%

677,201

381,367

June

3,751,537

4,810,105

2,051,292

2,758,813

4,810,105

8.1%

0.7%

1.9%

1.4%

-0.2%

77.7%

14.2%

42.7%

57.3%

47,116

100.0%

100.0%

678,464

385,440

May

3,712,850

4,776,754

2,040,120

2,736,634

4,776,754

8.2%

0.7%

0.7%

0.1%

-0.6%

77.7%

14.1%

43.0%

57.0%

47,232

100.0%

100.0%

663,111

385,200

Apr

3,663,611

4,711,922

2,026,255

2,685,667

4,711,922

8.5%

3.0%

2.4%

0.1%

1.1%

77.4%

14.1%

22.2%

29.0%

51.2%

16.7%

21.8%

38.5%

43.3%

56.7%

46,926

100.0%

100.0%

663,164

399,594

Mar

3,642,869

4,705,627

2,038,955

2,666,672

4,705,627

Table 9

9.4%

-2.7%

-3.6%

-0.4%

-1.8%

75.1%

15.5%

42.8%

57.2%

45,562

100.0%

100.0%

720,769

437,432

Feb

3,497,094

4,655,295

1,991,061

2,664,234

4,655,295

DEBT INDICATORS

9.9%

2.7%

3.3%

0.5%

-1.6%

74.9%

15.2%

43.6%

56.4%

46,843

100.0%

100.0%

720,927

467,205

Jan

3,552,523

4,740,655

2,065,756

2,674,899

4,740,655

9.7%

3.8%

7.3%

73.6%

15.2%

11.2%

22.2%

30.2%

52.4%

16.7%

22.7%

39.4%

42.4%

57.6%

10.0%

45,609

100.0%

100.0%

718,269

527,412

3,472,490

4,718,171

1,999,969

2,718,202

4,718,171

CY 2010 CY

9.1%

6.6%

2.3%

4.2%

68.6%

17.3%

14.1%

24.0%

30.8%

54.8%

18.1%

23.2%

41.3%

43.8%

56.2%

41,566

100.0%

100.0%

760,107

622,258

3,014,275

4,396,640

1,926,599

2,470,040

4,396,640

CY 2009 CY

4.9%

9.7%

62.6%

19.2%

18.3%

23.4%

31.3%

54.7%

18.5%

24.7%

43.2%

42.8%

57.2%

19.5%

13.7%

38,111

100.0%

100.0%

810,103

770,335

2,640,465

4,220,903

1,806,475

2,414,428

4,220,903

CY 2008 CY

5.1%

2.2%

-3.6%

60.2%

23.3%

16.5%

21.9%

31.9%

53.9%

17.5%

25.5%

43.0%

40.7%

59.3%

36,330

-11.0%

100.0%

100.0%

863,872

614,125

2,234,490

3,712,487

1,511,320

2,201,167

3,712,487

CY 2007 CY

(P Million) (P

(P Million) (P

(P Million) (P

P a r t a r s i c u P l a r

Long-term

Medium-term

Short-term

Long-term

Medium-term

Short-term

Foreign

Domestic

Growth rate Growth (%)

% Distribution

Amount pesos in

Foreign

Domestic

Total NG Debt Total

Foreign

Domestic

Total NG Debt Total

Growth rate (%)rate Growth

(US$ Million)

Growth rate (%)rate Growth

Foreign

Growth rate (%)rate Growth

Domestic

By maturity By

% of GDP

% of GNI

% Distribution % Distribution

OUTSTANDING DEBT

A. National Government (NG) Debt Debt (NG) National Government A. NATIONAL GOVERNMENT NATIONAL

25

0

0

121

0.3%

0.0%

0.1%

0.0%

0.3%

8,135

2,294

9,093

58.4%

24.1%

17.2%

99.9%

89.4%

10.3%

70.1%

19.6%

10.3%

27,629

11,392

47,277

47,277

47,277

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

295,069

564,510

295,069

Dec

2,871,063

2,873,357

2,569,195

2,873,357

2,013,778

2,873,357

0

0

125

0.3%

0.0%

0.1%

0.0%

0.3%

7,616

2,294

9,093

59.5%

24.2%

16.0%

99.9%

89.3%

10.4%

69.6%

20.0%

10.4%

28,295

11,499

47,535

47,535

47,535

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

295,549

571,671

295,549

Nov

2,848,027

2,850,321

2,545,679

2,850,321

1,983,101

2,850,321

0

0

2.1%

0.0%

0.1%

0.0%

0.3%

1,013

7,686

2,294

9,091

59.1%

22.9%

15.9%

99.9%

88.9%

10.8%

69.0%

20.2%

10.8%

28,441

11,004

48,144

48,144

48,144

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

306,480

571,478

306,480

Oct

2,833,090

2,835,384

2,519,813

2,835,384

1,957,426

2,835,384

0

0

2.1%

0.0%

0.1%

0.0%

0.3%

1,001

7,684

2,294

9,093

59.2%

22.7%

15.9%

99.9%

87.8%

11.9%

67.4%

20.7%

11.9%

28,335

10,861

47,881

47,881

47,881

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

329,739

575,646

329,739

Sept

2,778,540

2,780,834

2,442,002

2,780,834

1,875,449

2,780,834

0

0

826

1.7%

0.0%

0.1%

0.0%

0.3%

7,519

2,294

9,092

59.3%

23.3%

15.7%

99.9%

87.3%

12.4%

66.7%

20.9%

12.4%

28,445

11,189

47,979

47,979

47,979

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

341,255

575,317

341,255

Aug

2,754,487

2,756,781

2,406,434

2,756,781

1,840,209

2,756,781

0

0

827

1.7%

0.0%

0.1%

0.0%

0.3%

7,333

2,294

9,092

59.6%

23.3%

15.4%

99.9%

87.0%

12.6%

66.4%

21.0%

12.6%

28,428

11,112

47,700

47,700

47,700

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

345,449

575,125

345,449

July

2,733,286

2,735,580

2,381,039

2,735,580

1,815,006

2,735,580

0

0

CY 2011 CY

820

1.7%

0.0%

0.1%

0.0%

0.3%

7,316

2,294

9,042

60.0%

22.8%

15.5%

99.9%

85.9%

13.8%

61.6%

24.6%

13.8%

28,289

10,731

47,156

47,156

47,156

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

381,367

677,201

381,367

June

2,756,519

2,758,813

2,368,404

2,758,813

1,700,245

2,758,813

0

0

842

1.8%

0.0%

0.1%

0.0%

0.3%

7,250

2,294

9,041

60.0%

22.9%

15.4%

99.9%

85.6%

14.1%

61.1%

24.8%

14.1%

28,287

10,737

47,116

47,116

47,116

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

385,440

678,464

385,440

May

2,734,340

2,736,634

2,342,153

2,736,634

1,672,730

2,736,634

0

0

869

1.8%

0.0%

0.1%

0.0%

0.4%

7,295

2,294

9,083

60.0%

22.8%

15.4%

99.9%

85.3%

14.3%

61.0%

24.7%

14.3%

28,324

10,744

47,232

47,232

47,232

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

385,200

663,111

385,200

Apr

2,683,373

2,685,667

2,291,384

2,685,667

1,637,356

2,685,667

0

0

842

1.8%

0.0%

0.1%

0.0%

0.4%

7,284

2,294

9,102

60.2%

22.5%

15.5%

99.9%

84.7%

15.0%

60.1%

24.9%

15.0%

28,228

10,572

46,926

46,926

46,926

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

399,594

663,164

399,594

Mar

2,664,378

2,666,672

2,257,976

2,666,672

1,603,914

2,666,672

0

0

814

1.8%

0.0%

0.1%

0.0%

0.4%

7,267

2,294

9,151

58.7%

23.5%

15.9%

99.9%

83.2%

16.4%

56.5%

27.1%

16.4%

26,723

10,758

45,562

45,562

45,562

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

437,432

720,769

437,432

Feb

2,661,940

2,664,234

2,217,651

2,664,234

1,506,033

2,664,234

0

0

790

1.7%

0.0%

0.1%

0.0%

0.3%

7,329

2,294

9,230

59.7%

22.9%

15.6%

99.9%

82.2%

17.5%

55.6%

27.0%

17.4%

27,957

10,767

46,843

46,843

46,843

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

467,205

720,927

467,205

Jan

2,672,605

2,674,899

2,198,464

2,674,899

1,486,767

2,674,899

0

0

776

1.7%

0.0%

0.1%

0.0%

0.3%

7,315

2,294

9,101

58.6%

23.7%

16.0%

99.9%

80.3%

19.4%

54.2%

26.4%

19.4%

26,710

10,808

45,609

45,609

45,609

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

527,412

718,269

527,412

2,715,908

2,718,202

2,181,689

2,718,202

1,472,521

2,718,202

CY 2010 CY

0

0

944

2.3%

0.0%

0.1%

0.0%

0.4%

9,646

7,246

2,294

9,249

57.1%

23.2%

17.4%

99.9%

74.4%

25.2%

44.0%

30.8%

25.2%

23,730

41,566

41,566

41,566

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

622,258

760,107

622,258

2,467,746

2,470,040

1,838,533

2,470,040

1,087,675

2,470,040

CY 2009 CY

0

0

817

2.1%

0.0%

0.1%

0.0%

0.7%

5,855

2,294

56.1%

26.4%

15.4%

99.9%

67.4%

31.9%

34.5%

33.6%

31.9%

21,370

10,069

38,111

38,111

38,111

15,880

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

770,335

833,990

810,103

770,335

2,412,134

2,414,428

1,628,213

2,414,428

2,414,428

CY 2008 CY

0

0

803

2.2%

0.0%

0.1%

0.0%

1.0%

8,510

5,439

2,294

59.4%

23.4%

15.0%

99.9%

71.1%

27.9%

32.9%

39.2%

27.9%

21,578

36,330

36,330

36,330

22,373

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

614,125

723,170

863,872

614,125

2,198,873

2,201,167

1,564,669

2,201,167

2,201,167

CY 2007 CY

P a r t a r s i c u P l a r

Foreign Debt Securities Debt Foreign

Commercial

Bilateral

Multilateral

Foreign Debt Securities Debt Foreign

Commercial

Bilateral

Multilateral

Long-term

Medium-term

Long-term

Medium-term

Assumed Liabilities a/ Liabilities Assumed

Direct Liabilities

Assumed Liabilities Assumed

Direct Liabilities

Others

Loans

Treasury Bonds

Treasury Bills

Others

Loans

Treasury Bonds/Notes*

Treasury Bills*

Long-term

Medium-term

Short-term

Long-term

Medium-term

Short-term

% distribution

By creditor type ($ Million) type creditor By

% distribution

By maturity ($ million) maturity By

% Distribution

By type of liability type By

% Distribution

By type of borrowing type By

% Distribution

By maturity By DOMESTIC DEBT (P Million) DEBT DOMESTIC

26

..

0

0

0

11

647

0.0%

7.4%

0.0%

0.0%

2.9%

4.8%

2.7%

1.4%

2,250

1,283

24.5%

65.2%

3,505

1,395

49.6%

41.6%

23,449

19,648

47,277

100.0%

100.0%

27,629

19,648

47,277

47,277

100.0%

11,566

30,811

47,277

100.0%

Dec

863,530

1,214,290

2,077,820

2,077,831

..

0

0

0

15

666

0.0%

7.4%

0.0%

0.0%

3.0%

4.7%

4.0%

1.4%

2,257

1,923

25.9%

63.7%

3,518

1,448

49.3%

40.5%

23,449

19,240

47,535

100.0%

100.0%

28,295

19,240

47,535

47,535

100.0%

12,289

30,280

47,535

100.0%

Nov

842,710

1,239,327

2,082,037

2,082,052

..

0

0

0

15

709

0.0%

7.5%

0.0%

0.0%

3.2%

4.8%

4.1%

1.5%

2,308

1,975

26.4%

62.9%

3,604

1,544

48.7%

40.9%

23,449

19,703

48,144

100.0%

100.0%

28,441

19,703

48,144

48,144

100.0%

12,693

30,303

48,144

100.0%

Oct

844,256

1,218,690

2,062,946

2,062,961

0

0

0

15

679

0.0%

7.4%

0.0%

0.0%

3.1%

4.7%

4.1%

1.4%

2,265

1,954

76.7%

26.2%

63.3%

3,549

1,479

49.0%

40.8%

23,437

19,546

47,881

100.0%

100.0%

28,335

19,546

47,881

47,881

100.0%

12,544

30,309

47,881

100.0%

Sept

853,177

1,236,795

2,089,972

2,089,987

..

0

0

0

15

722

0.0%

7.6%

0.0%

0.0%

3.3%

4.9%

4.1%

1.5%

2,329

1,957

26.3%

62.8%

3,651

1,578

48.8%

40.7%

23,437

19,534

47,979

100.0%

100.0%

28,445

19,534

47,979

47,979

100.0%

12,632

30,118

47,979

100.0%

Aug

829,226

1,207,478

2,036,704

2,036,719

..

0

0

0

15

716

0.0%

7.7%

0.0%

0.0%

3.3%

4.9%

4.0%

1.5%

2,346

1,929

26.3%

62.7%

3,673

1,566

49.1%

40.4%

23,437

19,272

47,700

100.0%

100.0%

28,428

19,272

47,700

47,700

100.0%

12,535

29,926

47,700

100.0%

812,329

July

1,198,223

2,010,552

2,010,567

1

0

0

CY 2011 CY

21

722

0.0%

7.6%

0.0%

0.0%

3.3%

4.8%

3.9%

1.5%

2,273

1,858

76.8%

25.6%

63.5%

3,597

1,576

49.7%

40.0%

23,436

18,867

47,156

100.0%

100.0%

28,289

18,866

47,155

47,156

100.0%

12,060

29,923

47,156

100.0%

820,698

June

1,230,573

2,051,271

2,051,292

..

1

0

0

21

714

0.0%

7.6%

0.0%

0.0%

3.4%

4.8%

3.9%

1.5%

2,284

1,853

25.7%

63.3%

3,604

1,569

49.7%

40.0%

23,436

18,829

47,116

100.0%

100.0%

28,287

18,828

47,115

47,116

100.0%

12,100

29,843

47,116

100.0%

May

815,273

1,224,826

2,040,099

2,040,120

..

1

0

0

21

741

0.0%

7.7%

0.0%

0.0%

3.5%

4.9%

3.9%

1.6%

2,305

1,841

25.6%

63.2%

3,652

1,629

49.6%

40.0%

23,437

18,908

47,232

100.0%

100.0%

28,324

18,907

47,231

47,232

100.0%

12,089

29,862

47,232

100.0%

Apr

811,133

1,215,101

2,026,234

2,026,255

1

0

0

21

706

0.0%

7.7%

0.0%

0.0%

3.3%

4.9%

3.9%

1.5%

2,276

1,810

77.0%

25.3%

63.7%

3,595

1,555

49.9%

39.8%

23,436

18,698

46,926

100.0%

100.0%

28,228

18,697

46,925

46,926

100.0%

11,894

29,882

46,926

100.0%

Mar

812,401

1,226,533

2,038,934

2,038,955

..

1

0

0

20

687

0.0%

7.9%

0.0%

0.0%

3.3%

5.1%

4.0%

1.5%

2,263

1,837

26.6%

62.2%

3,579

1,499

48.1%

41.3%

21,936

18,839

45,562

100.0%

100.0%

26,723

18,838

45,561

45,562

100.0%

12,131

28,353

45,562

100.0%

Feb

823,231

1,167,810

1,991,041

1,991,061

..

1

0

0

20

681

0.0%

7.6%

0.0%

0.0%

3.1%

4.8%

3.9%

1.5%

2,242

1,827

25.9%

63.4%

3,567

1,456

49.5%

40.3%

23,207

18,886

46,843

100.0%

100.0%

27,957

18,885

46,842

46,843

100.0%

12,143

29,677

46,843

100.0%

Jan

832,853

1,232,883

2,065,736

2,065,756

1

0

0

26

661

0.0%

5.1%

0.0%

0.0%

3.1%

2.2%

4.0%

1.4%

1,006

1,837

76.0%

26.7%

65.1%

2,308

1,414

50.9%

41.4%

23,207

18,898

45,609

100.0%

100.0%

26,710

18,898

45,608

45,609

100.0%

12,207

29,680

45,609

100.0%

828,689

1,171,254

1,999,943

1,999,969

CY2010

0

1

45

45

99

546

0.0%

3.6%

0.1%

0.2%

4.7%

0.0%

1.3%

4.0%

1,653

75.8%

24.2%

67.2%

1,492

1,959

51.8%

42.9%

21,530

17,837

41,566

100.0%

100.0%

23,730

17,835

41,565

41,566

100.0%

10,062

27,909

41,566

100.0%

826,671

1,099,884

1,926,555

1,926,599

CY 2009 CY

0

1

61

49

550

107

0.0%

3.6%

0.0%

0.3%

4.8%

0.0%

1.4%

4.2%

1,604

70.1%

26.9%

64.3%

1,390

1,832

50.4%

43.9%

19,216

16,741

38,111

100.0%

100.0%

21,370

16,740

38,110

38,111

100.0%

10,238

24,495

38,111

100.0%

793,465

1,012,949

1,806,414

1,806,475

CY 2008 CY

0

2

72

57

440

125

0.0%

3.9%

0.1%

0.3%

5.3%

0.0%

1.2%

4.6%

1,682

66.1%

22.4%

68.0%

1,418

1,915

8,124

53.6%

40.6%

19,456

14,752

36,330

100.0%

100.0%

21,578

14,750

36,328

36,330

100.0%

24,691

36,330

100.0%

897,653

613,595

1,511,248

1,511,320

CY 2007 CY

P a r t a r s i c u P l a r

Assumed Liabilities Liabilities Assumed

Direct Liabilities

Assumed Liabilities a/ Liabilities Assumed

Foreign Debt Securities Debt Foreign

Loans

Direct Liabilities

Assumed Liabilities a/ Liabilities Assumed

Foreign Debt Securities Debt Foreign

Loans

Direct Liabilities

Other currencies

Deutsche Mark

French Franc

Euro

Japanese Yen

US Dollar US

Other currencies

Deutsche Mark

French Franc

Euro

Japanese Yen

US Dollar US

Peso Denominated Bonds Denominated Peso

Yen Bonds Yen

Eurobonds

US DollarBonds/Notes US

Loans

Peso Denominated Bonds Denominated Peso

Yen Bonds Yen

Eurobonds

US Dollar Bonds/Notes Dollar US

Loans

toDebt External

% of NG% Foreign Debt

% distribution

By type of liability (P Million) (P of liability type By

By type of liability ($ Million) of liability type By

% distribution

By type of currency type By

% distribution By type of securities type By

27

2.6%

4.8%

7.4%

12.1%

18.5%

34.6%

53.1%

12.6%

23.5%

36.1%

38.6%

61.4%

34.8%

65.2%

100.0%

100.0%

443,754

278,996

722,750

251,679

471,071

722,750

Total

0.4%

0.3%

0.7%

27.9%

36.8%

26.2%

63.0%

16.0%

11.4%

27.4%

39.6%

60.4%

58.4%

41.6%

41,952

27,489

69,441

40,585

28,856

69,441

Dec

100.0%

100.0%

_

_

_

5.8%

6.5%

5.0%

8,370

19.5%

26.0%

14.9%

19.9%

49.0%

51.0%

25.0%

75.0%

17,044

16,408

33,452

25,082

33,452

Nov

100.0%

100.0%

_

_

_

5.7%

9.8%

7.6%

9.0%

9,690

11.7%

21.5%

16.6%

56.6%

43.4%

45.6%

54.4%

12,657

22,347

10,195

12,152

22,347

Oct

100.0%

100.0%

9.8%

0.2%

0.6%

0.8%

9.7%

15.8%

53.6%

69.4%

33.0%

42.7%

35.7%

64.3%

22.8%

77.2%

46,571

25,835

72,406

16,476

55,930

72,406

100.0%

100.0%

Sept

_

_

_

9.0%

9.4%

12.6%

46.3%

59.0%

34.4%

43.8%

28.6%

71.4%

21.4%

78.6%

52,280

20,906

73,186

15,679

57,507

73,186

Aug

100.0%

100.0%

_

_

_

4.5%

1,948

11.6%

20.6%

19.8%

40.3%

16.2%

15.6%

31.9%

95.5%

51.0%

49.0%

41,199

43,147

21,988

21,159

43,147

July

100.0%

100.0%

CY 2011 CY

5.9%

0.1%

0.1%

0.3%

9.2%

7,073

10.5%

13.2%

23.7%

11.5%

20.7%

70.3%

29.7%

44.3%

55.7%

16,705

23,778

10,529

13,249

23,778

100.0%

100.0%

June

_

_

_

4.5%

6.6%

5.3%

7,902

22.3%

28.9%

18.0%

23.3%

45.1%

54.9%

22.8%

77.2%

19,060

15,645

34,705

26,803

34,705

May

100.0%

100.0%

_

_

_

5.3%

7.1%

6.0%

8.3%

7.0%

6,791

9,854

8,369

13.2%

15.3%

62.7%

37.3%

54.1%

45.9%

11,432

18,223

18,223

Apr

100.0%

100.0%

9.2%

0.2%

0.8%

1.0%

9.5%

16.2%

67.6%

83.8%

39.7%

49.2%

36.5%

63.5%

19.3%

80.7%

57,021

32,732

89,753

17,354

72,399

89,753

Mar

100.0%

100.0%

_

_

_

43.3%

91.5%

54.1%

37.4%

22.1%

59.5%

19.0%

81.0%

62.8%

37.2%

94,365

22,151

73,197

43,319

Feb

145.6%

100.0%

100.0%

116,516

116,516

_

_

_

9.2%

11.1%

14.4%

78.2%

92.6%

50.0%

59.2%

28.5%

71.5%

15.5%

84.5%

89,959

35,837

19,550

100.0%

100.0%

Jan

125,796

106,246

125,796

2.7%

5.0%

7.7%

10.7%

20.1%

37.0%

57.1%

12.7%

23.3%

36.0%

42.7%

57.3%

35.2%

64.8%

100.0%

100.0%

395,555

294,244

689,799

242,880

446,919

689,799

CY2010

2.7%

5.1%

7.8%

11.4%

19.0%

36.4%

55.4%

12.1%

23.2%

35.3%

44.8%

55.2%

34.2%

65.8%

100.0%

100.0%

343,421

278,866

622,287

213,052

409,235

622,287

CY2009

8.2%

2.4%

5.6%

7.9%

15.2%

35.8%

50.9%

11.3%

26.7%

38.0%

44.4%

55.6%

29.7%

70.3%

100.0%

100.0%

340,464

272,218

612,682

182,257

430,425

612,682

CY2008

7.5%

2.5%

6.4%

8.9%

15.2%

38.8%

54.0%

11.6%

29.5%

41.1%

43.6%

56.4%

28.1%

71.9%

100.0%

100.0%

346,269

267,800

614,069

172,832

441,237

614,069

CY2007

as % of Exports** % as

P a r t a r s i c u P l a r

Foreign Foreign

Domestic

Total Debt Service Debt Total

Foreign Foreign

Domestic

Total Debt Service Debt Total

Foreign Foreign

Domestic

Total Debt Service Debt Total

Interest Payments

Principal Payments Principal

Foreign

Domestic

% distribution

% distribution

Foreign

Domestic

B. National Government Debt Service Debt B. National Government

NG Foreign Debt Service

As % of GDP % As

As % of NG Revenues % As

As % of NG Expenditures+Principal % As

Principal Payments Principal

Interest Payments

TotalDebt Service TOTAL DEBT SERVICE (P Million) (P TOTAL DEBT SERVICE

28

7.0%

43.32

32.3%

67.7%

10.9%

17.9%

38.9%

61.1%

100.0%

100.0%

143,159

300,595

443,754

108,520

170,476

278,996

Total

3.6%

9.4%

43.95

8,945

7,578

78.7%

21.3%

13.0%

27.6%

72.4%

33,007

41,952

19,911

27,489

Dec

100.0%

100.0%

1.4%

9.5%

43.80

6,215

2,155

36.5%

63.5%

10.9%

13.1%

86.9%

10,829

17,044

14,253

16,408

Nov

100.0%

100.0%

5.9%

4.2%

42.85

2,809

6,881

9,690

7,386

5,271

29.0%

71.0%

10.1%

58.4%

41.6%

12,657

Oct

100.0%

100.0%

8.0%

43.65

6,596

9,880

14.2%

85.8%

13.0%

21.0%

38.2%

61.8%

39,975

46,571

15,955

25,835

100.0%

100.0%

Sept

6.8%

42.45

7,918

7,761

15.1%

84.9%

11.4%

18.2%

37.1%

62.9%

44,362

52,280

13,145

20,906

Aug

100.0%

100.0%

700

42.15

1,248

1,948

64.1%

35.9%

15.5%

15.3%

30.9%

50.3%

49.7%

20,740

20,459

41,199

July

100.0%

100.0%

CY 2011 CY

655

9.3%

3.8%

43.50

6,418

7,073

4,111

90.7%

11.7%

15.5%

24.6%

75.4%

12,594

16,705

100.0%

100.0%

June

1.7%

43.30

5,667

2,235

29.7%

70.3%

10.3%

12.1%

14.3%

85.7%

13,393

19,060

13,410

15,645

May

100.0%

100.0%

6.6%

3.6%

42.90

2,471

4,320

6,791

7,383

4,049

36.4%

63.6%

10.2%

64.6%

35.4%

11,432

Apr

100.0%

100.0%

8.8%

43.45

6,304

11.1%

88.9%

17.3%

26.1%

33.8%

66.2%

50,717

57,021

11,050

21,682

32,732

Mar

100.0%

100.0%

9.9%

43.70

67.0%

33.0%

12.0%

21.8%

45.2%

54.8%

63,190

31,175

94,365

10,007

12,144

22,151

Feb

100.0%

100.0%

1.5%

44.10

1,316

98.5%

14.9%

14.4%

29.3%

50.9%

49.1%

88,643

89,959

18,234

17,603

35,837

100.0%

100.0%

Jan

7.8%

43.85

31.4%

68.6%

11.5%

19.3%

40.3%

59.7%

100.0%

100.0%

124,309

271,246

395,555

118,571

175,673

294,244

CY2010

8.0%

46.35

28.8%

71.2%

11.6%

19.6%

40.9%

59.1%

98,889

100.0%

100.0%

244,532

343,421

114,163

164,703

278,866

CY2009

8.0%

47.40

23.6%

76.4%

13.4%

21.4%

37.4%

62.6%

80,513

100.0%

100.0%

259,951

340,464

101,744

170,474

272,218

CY2008

9.6%

41.60

18.0%

82.0%

13.7%

23.3%

41.3%

58.7%

62,252

100.0%

100.0%

284,017

346,269

110,580

157,220

267,800

CY2007

Not yet available Not yet

Foreign Principal Payments Principal Foreign

Domestic Principal Payments Domestic Principal

Foreign Interest Payments Foreign

Domestic Interest Payments Domestic

Total Interest Payments Total

Foreign Interest Payments Foreign

Domestic Interest Payments

P a r t a r s i c u P l a r

- Resulting figures comparable are not - Resulting

Includes issuances CB-BOL Includes to

% distribution

Foreign

Domestic

% distribution

Foreign

Domestic

Assumed loans of DBP, NPC, PNB, PNPP, NDC, TIDCORP, Assumed PNPP, PAL PNB, NPC, of loans DBP,

Note: Based on the revised /rebased GDP and GNI GDP and /rebased revised the on Based Note:

Forex Rate Used (P/US$) Forex Used (P/US$) Rate

** - NS0 not BSP source BSP not - NS0 **

* - *

...

.. -

TotalPayments Principal

As % of NG Expenditures % As

TotalInterest Payments a/

29

136

3,764

412,021

415,785

157,451

157,587

573,372

Dec

5,524,560

4,951,188

136

3,752

413,680

417,432

161,130

161,266

578,698

Nov

5,511,071

4,932,373

136

3,672

412,703

416,375

161,319

161,455

577,830

Oct

5,476,175

4,898,345

136

3,739

418,192

421,931

161,320

161,456

583,387

Sept

5,454,208

4,870,821

136

3,648

409,646

413,294

161,320

161,456

574,750

Aug

5,368,250

4,793,500

136

3,622

421,348

424,970

161,508

161,644

586,614

July

5,332,761

4,746,147

136

CY 2011 CY

3,738

427,559

431,297

163,509

163,645

594,942

June

5,405,047

4,810,105

136

3,720

426,932

430,652

138,510

138,646

569,298

May

5,346,052

4,776,754

136

3,688

91,510

91,646

423,357

427,045

518,691

Apr

5,230,613

4,711,922

136

3,733

91,511

91,647

429,751

433,484

525,131

Mar

5,230,758

4,705,627

136

3,754

441,716

445,470

100,311

100,447

545,917

Feb

5,201,212

4,655,295

136

3,787

445,511

449,298

100,312

100,448

549,746

Jan

5,290,401

4,740,655

136

3,765

445,595

449,360

100,312

100,448

549,808

5,267,979

4,718,171

CY 2010 CY

136

3,982

79,519

79383**

530,633

534,614

614,133

5,010,773

4,396,640

CY 2009 CY

136

4,069

72,769

72,905

468,603

472,672

545,577

4,766,480

4,220,903

CY 2008 CY

136

3,758

64,832

64,968

415,458

419,216

484,184

4,196,671

3,712,487

CY 2007 CY

P a r t a r s i c u P l a r

Assumed GFI Guarantee

NG Direct Guarantee NG Direct Guarantee

Assumed GFI Guarantee

NG Direct Guarantee NG Direct Guarantee

Breakdown of totals may not sum up due to rounding.

Foreign

Domestic

Note:

TotalNG Outstanding Debt

Actual NG Outstanding Debt Actual

Memo Item: Memo

T O T A L T O T A

(including Contingent Liabilities)

National Government Outstanding Contingent Debt* Outstanding Contingent National Government

** Includes P7M HGC Guaranty (PAG-IBIG Housing Bonds) HGC Guaranty Housing (PAG-IBIG P7M Includes **

*NG Direct and NG Assumed Guaranteed only. NG Guaranteed Assumed *NG Direct and

(In Million Pesos) Million (In As of the Period Indicated As of Period the

30

BUREAU OF THE TREASURY DIRECTORY OF OFFICIALS CENTRAL OFFICE

TELEPHONE NUMBER/S NAME/OFFICE/SUBSECTOR ADDRESS E-MAIL ADDRESS (567-5480-Trunkline) Direct Line Local

ROBERTO B. TAN 3/F Palacio del Gobernador [email protected] 527-3184 304; 320 Treasurer of the Philippines Gen. Luna St., Intramuros, Manila 527-3179 (TF)

SUBSECTOR FOR LIABILITY MANAGEMENT AND INFORMATION SYSTEMS MANAGEMENT

EDUARDO S. MENDIOLA 2/F Palacio del Gobernador [email protected] 527-31-83 (TF) 204 Deputy Treasurer of the Philippines Gen. Luna St., Intramuros, Manila

MA. NANETTE C. DIAZ 2/F Palacio del Gobernador [email protected] 527-7090 202; 208 Director III Gen. Luna St., Intramuros, Manila 527-2782 (F) Liability Management Service

Zenaida M. Roxas 2/F Palacio del Gobernador [email protected] 220; 231 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Payments Division

Irene A. Jonson 2/F Palacio del Gobernador [email protected] 205; 206 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Debt Monitoring and Analysis Division

Ednaliza B. Bona 2/F Palacio del Gobernador [email protected] 527-2827 207 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila 527-3132 Secuirties Origination Division

Scripless Securities Registration Division 2/F Palacio del Gobernador [email protected] 527-3076 218 Gen. Luna St., Intramuros, Manila 527-2785

REGILITO L. TAMAYO 4/F Palacio del Gobernador [email protected] 527-6260 403; 420 OIC-Director Gen. Luna St., Intramuros, Manila Mngt. Information System Service

Regilito L. Tamayo 4/F Palacio del Gobernador [email protected] 419 OIC-Director & Concurrent CTOO II Gen. Luna St., Intramuros, Manila Systems Development Division

Gabriel L. Mirto 4/F Palacio del Gobernador [email protected] 527-6846 424 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Hardware Maintenance Division

Wilfredo L. Yatco 4/F Palacio del Gobernador [email protected] 527-6262 414; 415 Officer-In-Charge Gen. Luna St., Intramuros, Manila 416 Database Administration Division and Systems Administration Division

SUBSECTOR FOR LEGAL SERVICES, ADMINISTRATION AND ASSET MANAGEMENT

ATTY. GISELA F. LOOD 4/F Palacio del Gobernador [email protected] 527-2791 (TF) 401; 405 Deputy Treasurer of the Philippines Gen. Luna St., Intramuros, Manila

ATTY. WILLIAM A. BELUSO, JR. 3/F Palacio del Gobernador [email protected] 525-0029 (TF) 301; 321 OIC-Director Gen. Luna St., Intramuros, Manila Legal Service

Atty. Dennis I. Madrigal 3/F Palacio del Gobernador [email protected] 309 Attorney V Gen. Luna St., Intramuros, Manila

Atty. Tyrone Val F. Brotarlo 3/F Palacio del Gobernador [email protected] 310 Attorney V Gen. Luna St., Intramuros, Manila

31

Homer L. Soliven G/F Palacio del Gobernador [email protected] 527-2810 104 Officer-In-Charge Gen. Luna St., Intramuros, Manila Internal Security Division Melanio C. Lacuata 4/F Palacio del Gobernador 418 Officer-In-Charge Gen. Luna St., Intramuros, Manila Internal Audit Division

ATTY. RAYMUNDO U. TAN 6/F Palacio del Gobernador [email protected] 527-5641 (TF) 624 OIC-Director Gen. Luna St., Intramuros, Manila 8610 Administrative Service

Victorenia B. Tarriga 2/F Palacio del Gobernador [email protected] 528-0892 622; 623 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Property and Supply Management Div.

Teresita F. Pecayo 6/F Palacio del Gobernador [email protected] 102 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Central Records Mngt. Division

Loreto O. Hidalgo 6/F Palacio del Gobernador [email protected] 605; 606 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Facilities Maintenance Division

Atty. Ma. Victoria Y. Yambao-Patinio 6/F Palacio del Gobernador [email protected] 613; 616 Officer-In-Charge Gen. Luna St., Intramuros, Manila 620 Human Resource Mngt. Division

MARCELA S. SALAZAR 2/F Palacio del Gobernador [email protected] 527-3103 203; 207 Director III Gen. Luna St., Intramuros, Manila Asset Management Service

Amparo S. Abad 2/F Palacio del Gobernador [email protected] 527-2794 214; 215 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila 527-6570 Receipts, Investment & Disbursement Div.

Aurora S. Marcelino 2/F Palacio del Gobernador [email protected] 527-3078 211;212 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila 527-3118 Fund Transfer Division

Imelda G. Dinglasan 2/F Palacio del Gobernador [email protected] 209; 210 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Fund Validation Division

Amorfina B. Reyes G/F Palacio del Gobernador [email protected] 106 Officer-In-Charge Gen. Luna St., Intramuros, Manila Cash and Custodial Division

SUBSECTOR FOR PLANNING, POLICY AND ACCOUNTING

CHRISTINE L. SANCHEZ 6/F Palacio del Gobernador [email protected] 527-3083 604; 608 Deputy Treasurer of the Philippines Gen. Luna St., Intramuros, Manila

FILEMON D. CONDINO 4/F Palacio del Gobernador [email protected] 527-3114 421 OIC-Director Gen. Luna St., Intramuros, Manila Research Service

Filemon D. Condino 4/F Palacio del Gobernador [email protected] 412; 425 OIC-Director & Concurrent Chief Gen. Luna St., Intramuros, Manila Fiscal Planning and Assessment Division

Norma G. Abelgas 4/F Palacio del Gobernador [email protected] 410 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Operations Planning Division

Salvacion C. Rios 4/F Palacio del Gobernador [email protected] 527-3082 411 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Bureau Budget Division

32

Elizabeth P. Awayan 4/F Palacio del Gobernador [email protected] 413 Officer-In-Charge Gen. Luna St., Intramuros, Manila Statiscal Data Analysis Division

Rafael C. Santos 4/F Palacio del Gobernador [email protected] 406; 407 Officer-In-Charge Gen. Luna St., Intramuros, Manila Financial Market Monitoring & Analysis Div.

PRUDENCIO C. BORLAZA 6/F Palacio del Gobernador [email protected] 527-3080 603; 621 OIC-Director Gen. Luna St., Intramuros, Manila Accounting Service

Marites B. Masarap 6/F Palacio del Gobernador [email protected] 614 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila National Gov't. Debt Accounting Division

Avelina H. Zumarraga 6/F Palacio del Gobernador [email protected] 607 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Miscellaneous Accounts Accounting Div.

Carol D. Jorge 6/F Palacio del Gobernador [email protected] 611; 612 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila Bureau Accounting Division

Ma. Luisa C. Estrella 6/F Palacio del Gobernador [email protected] 527-2793 617; 618 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila National Cash Accounting Division

REGIONAL/PROVINCIAL OFFICES

MERLITA B. MENDIOLA 3/F Palacio del Gobernador [email protected] 527-2786 302 Director II Gen. Luna St., Intramuros, Manila National Capital Region

Florence B. Almadrigo 3/F Palacio del Gobernador [email protected] 318 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila

Editha D. Lim 3/F Palacio del Gobernador [email protected] 314 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila District I

Juanita B. Guzman 3/F Palacio del Gobernador [email protected] 315;316 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila District II

Rolito M. Limbago 3/F Palacio del Gobernador [email protected] 317;319 Chief Treasury Operations Officer II Gen. Luna St., Intramuros, Manila District III

ROSALINDA G. VALDEZ 2/F P&G Building, Mabini St. [email protected] (072) 242-1702 OIC-Director Catbangen, San Fernando City [email protected] (072) 700-4434 Region I 2500 La Union [email protected] 09183156971

Rolando S. Dizon 2/F P&G Building, Mabini St. [email protected] (072) 242-4434 Officer-In-Charge Catbangen, San Fernando City 09399135308 La Union Provincial Office 2500 La Union

Rowena Viejo Ilocanos Heroes Memorial Hall [email protected] (077) 771-5287 Treasury Operations Officer IV 2900 Laoag City 09279401915 Ilocos Norte Provincial Office

Eugene T. Paytoc Singson-Amorin Bldg. [email protected] (077) 722-1792 Chief Treasury Operations Officer II M.H. Del Pilar St. 09266903907 Ilocos Sur Provincial Office 2700 Vigan City

33

Cesar D. Gavina Siapno-Caguioa Bldg. [email protected] (075) 515-6626 Officer-In-Charge Perez Blvd. Cor. Rizal St. 09174108141 Pangasinan Provincial Office 2400 Dagupan City

Elenita Basco Lyman Ogilby Centrum [email protected] (074) 445-3591 Treasury Operations Officer IV Magsaysay Ave. 09207849900 Benguet Provincial Office 2600 Baguio City

Kathelyn Z. Turqueza 3/F Balbin Bldg. II [email protected] (074) 752-8007 Chief Treasury Operations Officer II Cor. Taft & Actividad Economia St. 09178614729 Abra Provincial Office Zone IV Bangued, Abra

Evelyn F. Abad Petra Macliing Bldg. [email protected] (074) 602-1326 Chief Treasury Operations Officer II Poblacion, Bontoc 091850177187 Mt. Province Provincial Office Mt. Province

EDRALIN P. DELA CRUZ 2/F Sychangco Bldg. [email protected] (078) 844-1655 OIC-Director A. Bonifacio St., Tuguegarrao City [email protected] (078) 846-0959 Region II Cagayan 09285070815

Corazon A. Lacambra 2/F Sychangco Bldg. [email protected] (078) 846-4925 Chief Treasury Operations Officer II A. Bonifacio St., Tuguegarrao City 09109449931 Cagayan Provincial Office Cagayan

Evelyn A. Opiña 2/F Tomagan Bldg. [email protected] (078) 622-2905 Chief Treasury Operations Officer II Calamagui, Ilagan 09189591492 Isabela Provincial Office Isabela

Ma. Lourdes R. Galera G/F Grapevine Comn [email protected] (078) 321-2087 Chief Treasury Operations Officer II Dumlao Blvd., Bayombong 09209696513 Nueva Vizcaya Provincial Office Nueva Vizcaya

Nida W. Balacang 2/F Lua Bldg., Mayangao St. [email protected] 09108524141 In-Charge of Office Poblacion, Tabuk Kalinga-Apayao Provincial Office Kalinga

Leonora Agoc Stall No. 01, ABC Bldg. [email protected] (074) 382-2128 Officer-In-Charge Lagawe, Ifugao 09182858598 Ifugao Provincial Office

Leonora Agoc G/F Wee Bldg., San Marcos [email protected] (078) 692-5095 Officer-In-Charge Cabarroguis, Quirino (078) 692-5065 Quirino Provincial Office

Nora J. Gavina G/F Ivatan Lodge Na [email protected] 09202620343 Treasury Operations Officer IV Kaychanarianan, Basco Batanes Provincial Office Batanes

EDUARDO S. OCAMPO 3/F Brothers Five Bldg. [email protected] (045) 961-2158 OIC-Director Dolores, San Fernando City [email protected] 09277952213 Region III Pampanga

Alma F. Gagui 3/F Brothers Five Bldg. [email protected] (045) 961-2145 Chief Treasury Operations Officer II Dolores, San Fernando City 09151324676 Pampanga Provincial Office Pampanga

Myrna R. De Guzman Provincial Capitol Compound [email protected] (044) 760-2242 Officer-In-Charge Malolos City, Bulacan 09395969274 Bulacan Provincial Office

Eufronio V. Valdez, Jr. Pailla-Sta. Ana Bldg. [email protected] (044) 463-2012 In-Charge of Office Del Pilar cor. Calderon Sts. 09166115145 Nueva Ecija Provincial Office Cabanatuan City

Florante G. Padilla 201 CRAJJ-P Bldg. Prim Rose St. [email protected] (047) 237-3127 Chief Treasury Operations Officer Dona Francisca Subd. 09186484238 Bataan Procincial Office Balanga City

34

Anna Antonia A. Reyes 3/F Ley Anne Bldg. [email protected] (045) 982-4904 Chief Treasury Operations Officer II P. Hilario St., Brgy. Ligtasan 09155613425 Tarlac Provincial Office Tarlac City

Rhodora B. Manzanida 3/F Villagracia Bldg [email protected] (047) 222-4914 Officer-In-Charge West Bajac-Bajac 09065251603 Zambales Provincial Office Olongapo City

MARITES P. AGUINALDO 2/F Star Honda Bldg. [email protected] (049) 545-5951 OIC-Director Parian, Calamba City [email protected] 09272417884 Region IV-A 4027 Laguna

Antonio H. Eco, Jr. 2/F Star Honda Bldg. [email protected] (049) 545-5617 Chief Treasury Operations Officer II Parian, Calamba City 09277799112 Laguna Provincial Office 4027 Laguna

Marcelino C. Dalawampu 2/F P & C Bldg. [email protected] (043) 723-4052 Chief Treasury Operations Officer II Noble cor. Canlapan Sts. 09272417874 Batangas Provincial Office Batangas City

Nancy E. Bernales 2/F Exodus Bldg. [email protected] (046) 471-4086 Chief Treasury Operations Officer II Nueno Ave., Imus 09272417860 Cavite Provincial Office Cavite

Emiliana L. Quizon 2/F Grand Terminal Bldg. [email protected] (042) 710-2195 Chief Treasury Operations Officers II Babong Dupay 09272407688 Quezon Provincial Office Lucena City

Edwina R. Hidalgo 2/F JEK Bldg. [email protected] (02) 656-6178 Chief Treasury Operations Officer II Ortigas Ave. Ext. [email protected] (02) 655-7553 Rizal Provincial Office Cainta, Rizal 09272417883

LUCILE M. LOPEZ 4/F Insular Life Bldg. [email protected] (043) 722-2349 OIC-Director Hilltop, Batangas City [email protected] (043) 980-5506 Region IV-B 09175048825

Jeremias B. Kagakit Florers Bldg., 51 St. [email protected] (043) 711-5256 Chief Treasury Operations Officer II Brgy. 3, Mamburao 09175048833 Occ. Mindoro Provincial Office Occidental Mindoro

Leticia F. Mauro DBP Bldg., Brgy. Sto. Niño [email protected] (043) 288-1207 Chief Treasury Operations Officer II Calapan City 09175048827 Or. Mindoro Provincial Office

Edgar C. Maduro 357 Rizal Ave. [email protected] (048) 433-2856 Officer-In-Charge Puerto Princesa City 09175048828 Palawan Provincial Office Palawan

Virginia L. Mangui 2/F Vidal Bldg. [email protected] (042) 332-1507 Chief Treasury Operations Officer II No. 1 de Noviembre St. 09175048826 Marinduque Provincial Office San Miguel, Boac, Marinduque

Virginia B. Fabrigar JEN & L Bldg. [email protected] (042) 567- 5764 Chief Treasury Operations Officer II Washington St., Brgy. Tabin Dagat 09175048829 Romblon Provincial Office Odiongan, Romblon MARISA C. BAUTISTA 3/F D" Executive Bldg. [email protected] (052) 820-3320 OIC-Director Barangay Pinago (052) 480-6717 Region V Legaspi City 09198148982

Marisa C. Bautista 3/F D' Executive Bldg. [email protected] (052) 480-9813 OIC-Director & Concurrernt CTOOII Barangay Pinago 09198148982 Albay Provincial Office Legaspi City Ma. Dalisay G. Bernardo Magallanes Iraya [email protected] (054) 721-4001 Chief Treasury Operations Officer II Daet, Camarines Norte 09275462126 Camarines Norte Provincial Office

35

Jose Cyril T. Panambo Arana St. cor. Hernandez Ave. [email protected] (054) 811-6122 Chief Treasury Operations Officer II Naga City 09214299815 Camarines Sur Provincial Office

Benjamin D. Garcia Virac, Catanduanes [email protected] (052) 811-1622 Chief Treasury Operations Officer II 09183877735 Catanduanes Provincial Office

Raul A. Berja Espinosa Bldg. [email protected] (056) 333-2258 Chief Treasury Operations Officer II Mabini St., Masbate City 09208018834 Masbate Provincial Office

Minerva J. Hina Pena Bldg., Burgos St. [email protected] (056) 211-1829 Officer-In-Charge Sorsogon City 09195529780 Sorsogon Provincial Office

JULIET A. ALFECHE 2/F 156 RC Building [email protected] (033) 509-9805 OIC-Director Rizal St., Iloilo City [email protected] (033) 335-0135 Region VI 09163119515 Leah Sarah G. Paulite 2/F 156 RC Building [email protected] (033) 335-0838 Chief Treasury Operations Officer II Rizal St., Iloilo City [email protected] (033) 509-9805 Iloilo Provincial Office 09189426359

Bernadette F. Ang Irao-Lota Bldg., [email protected] (036) 500-9653 Officer-In-Charge Toting Reyes St. 09228975920 Aklan Provincial Office Kalibo 5600 Aklan

Shirley D. Flores 2/F Joseph Bldg. [email protected] (036) 540-9833 Officer-In-Charge Gov. Villaverti cor. Gen. Fullon Sts. 09162542073 Antique Provincial Office San Jose, Antique

Circumsision S. Alberca 2/F Fuentes Bldg. [email protected] (036) 522-3515 Officer-In-Charge Fuentes St.,Roxas City 09273157049 Capiz Provincial Office Capiz

Eloisa L. Avila 2/F Uy Kang Ha Bldg. [email protected] (034) 709-6932 Officer-In-Charge Burgos-Lacson Sts. 09196084840 Negros Occ. Provincial Office Bacolod City

ATTY. PHILIPS JOSE P. DELA TORRE 2/F DBP Bldg., Osmena Blvd. [email protected] (032) 254-3308 OIC-Director Cebu City [email protected] (032) 412-3502 Region VII 09189213630

Yolanda P. Aclan 2/F DBP Bldg., Osmena Blvd. [email protected] (032) 255-7635 Chief Treasury Operations Officer II Cebu City (032) 254-8167 Cebu Provincial Office 09209827211

Nelita P. Ledesma Plaza Dona Milagros Bldg. [email protected] (035) 422-6010 Chief Treasury Operations Officer II Percides St., Dumaguete City 09209827206 Negros Oriental Provincial Office

Victoria C. Lerias 40 Airport Road [email protected] (038) 411-2891 Chief Treasury Operations Officer II Tagbilaran City [email protected] (038) 411-3662 Bohol Provincial Office 09209827205

CRISPIN B. BANZON, JR. 3/F Phil. Veterans Bank Bldg. [email protected] (053) 523-0280 Director II Justice Romualdez St. [email protected] (053) 523-0290 Region VIII 6500 Tacloban City 09173045688

Jose L. Palomino 3/F PVB Bldg. [email protected] (053) 523-9020 Chief Treasury Operations Officer II Justice Romualdez St. (053) 321-2005 Northern Leyte Provincial Office Tacloban City 09173044868

Mercedes B. Pangilinan DCPS Bldg. [email protected] (055) 500-9045 Chief Treasury Operations Officer II J.P. Rizal St.,Catarman 09173044867 Northern Samar Provincial Office Northern Samar

36

Carlota C. Manocsoc N. Alvarez, Alcantara St. [email protected] (053) 570-9065 Chief Treasury Operations Officer II Manhatan, Maasin 09173044870 Southern Leyte Provinciial Office Leyte

Aurora S. Laguilles UCCP Dorcas Bldg. [email protected] (055) 543-9005 Chief Treasury Operations Officer II Arteche Blvd. [email protected] 09173044866 Western Samar Procincial Office Catbalogan, Samar

Ruben D. Polidario Cecilia Obena Bldg [email protected] (055) 56-9578 Chief Treasury Operations Officer II Abinis St.m Brgy. Baybay 09173044869 Eastern Samar Provincial Office Borongan, Eastern Samar

EVELYN B. LAGUE Ras Bldg., Chico Hills [email protected] (062) 215-4156 Director II Bulatok St., Tuburan District [email protected] 09052543109 Region IX Pagadian City [email protected]

Miriam R. Gallebo City Government Complex [email protected] (062) 991-2092 Chief Treasury Operations Officers II Pettit Barracks 09282384789 Zamboanga del Sur I Zamboanga City, 7000

Valentino M. Simbajon RAS Bldg., Chico Hills [email protected] (062) 215-1536 Chief Treasury Operations Officer II Bulatoc St., Tuburan District [email protected] 09213847479 Zamboanga del Sur II Zamboanga del Sur, 7016

Luzviminda A. Quijano Door 2, R-5 Ticson Bldg. [email protected] 09206677841 Officer-In-Charge Tubig Boh, Bongao Tawi-Tawi Provincial Office Tawi-tawi, 7500

Lorenzo E. Jauculan 2/F Simbajon Bldg. [email protected] (065) 212-2666 Chief Treasury Operations Officer II 037 Burgos St., Dipolog City 09268539383 Zamboanga del Norte Provincial Office Zamboanga del Norte, 7100

Julie P. Cardozo M. Hizon Bldg. [email protected] (062) 200-3579 Chief Treasury Operations Officer I Valderosa St., Isabela City 09088640273 Basilan Provincial Office Basilan, 7300

Jocel R. Llanda Marina St. [email protected] 09151943310 Chief Treasury Operations Officer II Jolo, Sulu, 7400 Sulu Provincial Office

ROGIE S. GADIAN 2/F Jugador Bldg. [email protected] (0882) 272-7798 OIC - Director Cor. Gaerlan-Velez Sts. [email protected] (088) 857-1578 Region X 9000 Cagayan de Oro City [email protected] 09279433410

Rogie S. Gadian 2/F Jugador Bldg. [email protected] (0882) 272-7798 OIC-Director & Concurrent CTOOII Cor. Gaerlan-Velez Sts. 09393995672 Misamis Oriental Provincial Office Cagayan De Oro City

Felixberto J. Roxas, Jr. 2/F Torion Bldg., Lacas [email protected] (088) 387-0251 Chief Treasury Operations Officer II Mambajao, Camiguin 09396285278 Camiguin Provincial Office

Dexie F. Nericua 3/F Ortega Bldg. [email protected] (088) 521-2812 Officer-In-Charge Mabini St., Ozamiz City 09205626706 Misamis Occ. Provincial Office

Lucelia P. Salibio 2/F Aking Bldg., Fortich St. [email protected] (088) 813-4007 Officer-In-Charge Malaybalay City, Bukidnon 09187393101 Bukidnon Provincial Office

CLARA G. AURELIO 2/F Old COA Bldg. [email protected] (082) 300-3619 Director II Cor. Gen. Luna & Quinto Sts. [email protected] (082) 222-3689 Region XI 09285015703

37

Milagros S. Rendon Santiago Boulevard [email protected](083) 552-1183 Chief Treasury Operations Officer II City 09192332765 Saranggani Provincial Office

Liza N. Pabularcon 3/F Old COA Bldg. [email protected] (082) 300-3619 Chief Treasury Operations Officer II Cor. Gen. Luna & E. Quirino Sts. [email protected] (082) 224-0285 Davao del Sur Davao City 09285214812

Corazon G. Nuqui Door III, Roche Bldg. [email protected] (087) 811-3130 Officer-In-Charge A. Mabini, Andravel 09228404840 Davao Oriental Provincial Office City of Mati, Davao Oriental

Elizabeth M. Sarabia Door 25, Suarez Plaza Bldg. [email protected] (084) 400-3051 Chief Treasury Operations Officer II Sobrecarey St., 09203742825 Davao del Norte/Compostela Valley Tagum City Provincial Office

Ma. Leticia R. Suribas 2/F JAYVEN Bldg. [email protected] (083) 228-2424 Chief Treasury Operations Officer II General Santos Drive cor. 09169360528 South Cotabato Provincial Office Posadas St., Koronadal City

CLARA G. AURELIO 2/F Javier Bldg. [email protected] (083) 228-8864 Concurrent Director II Gen. Santos Drive cor. Posadas St [email protected] 09285015703 Region XII Koronadal City

Nornisa G. Datudacula 5/F CYM Bldg. [email protected] (064) 421-4514 Officer-In-Charge Don Rufino Bldg., Alonzo St. 09163380770 Maguindanao Provincial Office Cotabato City

Ramon V. Dela Cruz, Jr. 2ndF LBP Bldg. [email protected] (064) 288-5218 Chief Treasury Operations Officer II National Highway, Isulan 09216839759 Sultan Kudarat Provincial Office Sultan Kudarat

Malick A. Macabato 2/F Abalos Bldg., Roxas Ave. [email protected] (063) 221-2827 Chief Treasury Operations Officer II cor. Aguinaldo St. 09207513445 Lanao del Norte Provincial Office Kidapawan City

Amrosi S. Limpao 2/F Disomangcop Bldg. [email protected] 09205326324 Chief Teasury Operations Officer II Quezon Ave. Cor. Pasacum St. Lanao del Sur Provincial Office Marawi City

Manuel D. Aurelio 2/F Fajardo Bldg. [email protected] (064) 288-5218 Chief Treasury Operations Officer II Jose Abad Santos St. 09064975188 Kidapawan Provincial Office Kidapawan City

CLARA G. AURELIO 2/F Lim Chuy Tam Bldg. [email protected] (085) 341-2274 Concurrent Director II Cor. P. Burgos & Lopez Jaena Sts. [email protected] (085) 342-9480 CARAGA Montilla Blvd, Butuan City

Orlando R. Tulang 2/F RDG Bldg. [email protected] (086) 826-8537 Chief Treasury Operations Officer II San Nicolas St., Surigao City 09282718450 Surigao del Norte Provincial Office

Angelina R. Turtur NGPI Bldg., Brgy. 5 [email protected] (085) 343-8344 Chief Treasury Operations Officer II San Francisco, Agusan del Sur 09287406361 Agusan del Sur Provincial Office

Tita S. Ermac 2/F Lim Chuy Tam Bldg. [email protected] (085) 345-8025 Chief Treasury Operations Officer II cor. P. Burgos & Lopez Jaena Sts. 09108350941 Agusan del Norte Provincial Office Montilla Blvd., Butuan City

Calmalin Itaas 3/F Eduhome Bldg. [email protected] (086) 211-3319 Officer-In-Charge Osmena St., Tandag City 09177861271 Surigao del Sur Provincial Office

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