Balance of payments reverts to short fall in Jan

THE country’s balance of payments (BoP) reverted to deficit at the start of the year as the national government pays its foreign obligations, according to the Bangko Sentral ng Pilipinas (BSP).

Central bank data released on Wednesday night showed a BoP gap of $752 million in January, a turnaround of the $4.23 billion last December 2020 but lower than the $1.35 billion a year ago. It was also the biggest in one year or since the January 2020 shortfall.