Philippines' GIR reaches $104.03B in March, driven by govt deposits, gold valuation, and BSP investments; provides 7.7 months of import & service payments.
The Philippines' gross international reserves (GIR) reached a two-year high of $104.03 billion in March, driven by the National Government's net foreign currency deposits, upward valuation adjustments in the value of the BSP's gold holdings, and net income from the BSP's investments abroad. The GIR level is 6.1 times the country's short-term external debt based on original maturity and 3.7 times based on residual maturity, providing an external liquidity buffer equivalent to 7.7 months' worth of imports and payments of services and primary income.
April 07, 2024
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