Debt payments cause $1.6-B BoP shortfall

THE national government's payments of its external obligations resulted in a $1.60-billion deficit in the country's balance of payments (BoP) in May, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

It widened from the shortfalls in May 2021 and April of this year, which were at $1.39 billion and $415 million, respectively. It was also the largest level since the payments deficit surpassed $2 billion in February of the previous year.