BOP reverts to deficit in March

THE Philippines’ balance of payments (BOP) swung to a deficit in March after four months of surpluses due mainly to debt payments made by the national government during the month, the central bank said on Monday.

Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the country registered a BOP deficit of $244 million in March, a turnaround from the $985 million surplus recorded in February, which was the highest surplus in 19 months.