THE country posted a balance of payments (BoP) deficit of $895 million in February, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday, up from $157 million a year earlier as the government paid some of its foreign debt.

"The BoP deficit in February 2023 reflected outflows arising mainly from the national government's net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures," the central bank said in a statement.

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