The net international investment position (IIP) of the Philippines indicated a net liability position of $40.1 billion as of December 2022, based on preliminary data from the Bangko Sentral ng Pilipinas (BSP). Know more:
THE net international investment position of the Philippines indicated a net liability position of $40.1 billion as of December 2022, based on preliminary data from the Bangko Sentral ng Pilipinas .
The BSP also said the expansion in the country’s external financial liabilities quarter-on-quarter came amid an 8-percent growth in foreign direct investments to $113.0 billion from $104.6 billion and 10.8 percent growth in foreign portfolio investments to $82 billion from US$74.1 billion. This was due to the National Government’s net foreign currency deposits with the BSP, which included proceeds from its issuance of ROP Global Bonds, and upward adjustments in the BSP’s foreign currency-denominated reserves and gold holdings.
The contraction in the country’s external financial assets reflected the reduction in the outstanding level of reserve assets by 11.6 percent from $108.8 billion.
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