7 months PH net external liability down end Q1 MB |Biz
By Lee C. Chipongian The Philippines’ net external liability declined to $42.2 billion as of end-March from $48.8 billion in the previous quarter because of the rise in financial assets, the Bangko Sentral ng Pilipinas (BSP) reported. The net external liability is an indicator for the country’s net international investment position (IIP) which is a companion statistics of the balance of payments (BOP). As of end-March, the IIP improved because of the 4.1 percent increase in the country’s total external financial assets or investments of residents abroad to $182.8 billion from $175.6 billion in the previous quarter. The BSP ... more