8 months PH net external liability expands 14.3% in 2018 Manilatimes |Biz
The Philippines’ international investment position (IIP) worsened last year in relative terms given higher net external liabilities, the Bangko Sentral ng Pilipinas (BSP) reported. At $175.597 billion, external financial assets were smaller than external liabilities of $224.408 billion as of end-2018. The resulting $48.811-billion net liability was 14.3 percent higher compared to the $42.700 billion posted at end-2017. “This was on account of the 4.7 percent expansion in the country’s external financial liabilities, which negated the 2.4 percent growth in the country’s external financial assets during the period,” the BSP said. The resulting net liability was also 39 percent higher ... more