Overall BOP position posts deficit

THE country’s overall balance of payments (BOP) position in January posted a deficit of $531 million, higher than the $9 million deficit record in the same month last year.

Outflows in January stemmed mainly from foreign exchange operations of the BSP and payments made by the national government (NG) for its maturing foreign exchange obligations.

These were offset by net foreign currency deposits of the NG and income from the BSP’s investments abroad during the month in review. (PR)
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