Lumaktaw sa pangunahing content

PH’s int’l investment position better in Q3

The Philippines’ international investment position (IIP) improved in the third quarter of 2020 on the back of financial asset growth, according to the Bangko Sentral ng Pilipinas (BSP).

In a report, the central bank said the country’s IIP posted a net external liability position of $4.77 billion at end-September, down 64.9 percent from $13.58 billion at end-June.

“The steep decline in the net external liability position quarter-on-quarter was supported mainly by the 6.3-percent growth in the country’s total financial assets (or residents’ outstanding claims on nonresidents) to $222.9 billion,” the BSP explained.

This growth, it said, “more than offset the 2-percent increase in the total external financial liabilities (or nonresidents’ outstanding claims on Philippine residents) to $227.7 billion.”

The Bangko Sentral credited the asset increase to the buildup of international reserve assets, which climbed by 7.5 percent to $100.4 billion as of the third quarter from $93.5 billion three months earlier.

It said the 13.5-percent increase in residents’ portfolio investments, particularly in debt securities issued by nonresidents, supported the asset expansion.

Residents’ direct investments and other investments abroad gained 3.2 percent and 3.1 percent, respectively, in July to September.

Meanwhile, the BSP traced the growth in liabilities to other investments accelerating by 4.8 percent quarter-on-quarter to $57.9 billion from $55.3 billion.

“These were driven largely by the national government’s (NG) foreign borrowings (in the form of loan availments) as budgetary support to finance its Covid-19 (coronavirus disease 2019) pandemic response programs, as well as various infrastructure projects,” it explained.

Foreign direct investments and foreign portfolio investments also expanded to $95.2 billion and $73.9 billion, respectively, in the period.

“Positive revaluation adjustments on the NG’s foreign borrowings, in the form of loans and debt securities due to the weakening of the US dollar against other currencies during the quarter, likewise contributed to the increase in the country’s external liabilities,” the central bank said.

Year-on-year, the country’s net external liability position eased by 86.2 percent from $34.70 billion after external financial assets grew by 15.3 percent and liabilities dipped by 0.2 percent.

According to the BSP, the improvement in the IIP reflects the country’s $2.8-billion balance of payments surplus in the third quarter.

The IIP is a statistical statement that shows at a point in time the value of financial assets of the residents of an economy that are claims on nonresidents or are gold bullion held as reserve assets; and the liabilities of residents of an economy to nonresidents.

The difference between the assets and liabilities is the net position in the IIP and represents either a net claim on or net liability to the rest of the world.


Source: ManilaTimes
Mga etiketa:

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Canadians Abroad Roundup: Will Laryea be next Canadian in Premier League?

January was a transformative month for the Canadian men’s national team. Wins in Honduras and at home to the U.S. – coupled with the El Salvador road victory on Feb. 2 – all but guaranteed its qualification for the 2022 World Cup. Fans could start monitoring flights to Doha with relative comfort. An arguably superior development transpired that month, too. Nine Canadian-eligible players secured loans or permanent transfers to new clubs in the transfer window. Many of those moves were steps up in terms of the quality and size of the respective teams. For instance, Stephen Eustaquio joined Porto on loan with an option to buy from Pacos de Ferreira. Now he’s transitioned from mid-table obscurity to a league title and into the Champions League, provided reports are correct and he joins the Dragoes permanently. Ike Ugbo was loaned to Troyes in Ligue 1 from Genk, an admittedly big club in Belgium with a rich history. But moving to a top-five European league, especially to a club under t...
Mag-post ng isang Komento
Magbasa nang higit pa

Signs Of Cervical Cancer All Woman Should Know

Cervical or cervix malignancy can be risky in women. Though the statistics of this disease are shocking, if diagnosed early it can be treated. Cervical malignancy is due to the highly infectious HPV or human papillomavirus.  It is sexually transmitted and exists in different forms. A HPV infection may disappear without treatment or develop to an abnormal cell development that could cause cervical cancer. 7 Signs of Cervical Cancer Continuous pain in the legs, hips or back The swelling in the cervix may compress other organs. This may make it difficult for blood flow in the veins and may prevent blood from reaching the pelvis and legs, thus pain and swelling in the legs. Abnormal discharge When the disease starts to develop in the cervix, the uterine divider cells begin to loosen hence a watery discharge. Pain or bleeding Cervical tumor may develop on the cervix’s dividers which can dry out and eventually burst, hence distress and rectal or bladder bleeding. ...
Mag-post ng isang Komento
Magbasa nang higit pa

The National Museum – in step with the ‘new normal’

Even as vaccines begin to make their way around the world, museums and galleries are most likely among the industries which will be last to make a complete return to operations. Here in the Philippines to be specific, museums and galleries, along with cultural centers and libraries, are considered non-essentials and can only open under Modified Enhanced Community Quarantine (MGCQ), with corresponding rules on safety. The National Museum The National Museum The National Museum The National Museum The National Museum The National Museum The National Museum The National Museum It has therefore been quite a while since the National Museum of the Philippines complex in Manila saw long queues of guests, which of course has been very disheartening for the community. But just like the rest of the nation, the vanguards of the country’s precious arts and artifacts proved to be resilient, resourceful and innovative as they quickly built and steeled an online presence through...
Mag-post ng isang Komento
Magbasa nang higit pa