The country’s foreign reserves remain adequate despite the recorded deficit in the balance of payments (BOP), the Bangko Sentral ng Pilipinas (BSP) said Tuesday.<\/p>\n
According to the central bank, the balance of payments (BOP) registered a deficit of USD2.1 billion in April, down from the USD2.6 billion recorded in March.<\/p>\n
This brought the cumulative BOP position to USD7.4 billion for January to April this year.<\/p>\n
The overall BOP position denotes the transactions of the country with the rest of the world.<\/p>\n
Meanwhile, the country’s gross international reserves (GIR) settled at USD104.3 billion.<\/p>\n
“This level provides a robust external liquidity buffer equivalent to 6.9 months’ worth of imports of goods and payments of services and primary income,” the BSP said in a statement.<\/p>\n
The level also covers about 3.8 times the country’s short-term external debt based on residual maturity, it added.<\/p>\n
GIR are made up of foreign-denominated securities, foreign exchange and other assets including gold, which help ensure sufficient dollar liquidity to meet the country\u2019s import needs and foreign debt obligations, address currency volatility and provide a buffer against external economic shocks.<\/p>\n
GIR is viewed to be adequate if it can finance at least three months’ worth of the country\u2019s imports of goods and payments of services and primary income. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
BSP continues to monitor the balance of payments and foreign exchange position amid global economic developments.<\/p>\n","protected":false},"author":73,"featured_media":264472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19565],"tags":[],"class_list":["post-264471","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-today"],"zyndk8_nxtgen_metadata":{"nxtgen_comments":[{"8970":"bop deficit kailangan bantayan kahit may strong reserves \ud83d\udcaf\r","8971":"ayos na update ito \ud83d\udc4d\r","8972":"good update pero kailangan bantayan \ud83e\udd14\r"}]},"yoast_head":"\n