GOVERNMENT debt payments swung the country's balance of payments (BoP) position into a deficit in June, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
GOVERNMENT debt payments swung the country's balance of payments position into a deficit in June, the Bangko Sentral ng Pilipinas reported on Friday.Last month's $155-million shortfall reversed from May's $2.0-billion surplus but was lower than the $606-million deficit a year earlier.The result 'reflected outflows arising mainly from the national government's payments of its foreign currency debt obligations,' the central bank said in a statement.
The country's gross international reserves , meanwhile, increased to $105.2 billion as of end-June from $105.0 billion a month earlier, the central bank also reported.The level was said to represent 'a more than adequate external liquidity buffer equivalent to 7.7 months' worth of imports of goods and payments of services and primary income.''It is also about 6.0 times the country's short-term external debt based on original maturity and 3.
Swings To Deficit GIR Higher At $105.2B
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