PH net external liability down in 1st quarter – BSP

THE Philippines’ international investment position (IIP) improved as of the first quarter in relative terms, given lower net external liabilities, according to the Bangko Sentral ng Pilipinas (BSP).

In a report, the BSP said the improvement “stemmed primarily from the 4.1-percent increase in the country’s total external financial assets from $175.6 billion to $182.2 billion, which more than compensated for the marginal growth of 0.3 percent in total external financial liabilities from $224.4 billion to $225 billion.”