Philippines reserves up by $100m in second quarter
Drop in net foreign lending prompts BoP surplus to surge by 145% year-on-year
The Philippines recorded a $807 million balance of payments surplus in the year's second quarter, a 145% increase from the same period last year, according to the central bank.
"The current account remained in surplus while the financial account posted significantly lower net outflows," the Central Bank of the Philippines said in a report published on Friday (September 18). This was "due mainly to the increase in net incurrence of liabilities by residents".
Filipinos lent $51 million (on net) to
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