MANILA, Dec 20 (NNN-PNA) – The Philippines’ balance of payments (BoP), which accounts for the country’s transactions with the rest of the world, registered a deficit of 225 million U.S. dollars in Nov this year, the Philippine central bank said, yesterday.
For the Jan-Nov period, the Bangko Sentral ng Pilipinas (BSP), said, the BOP recorded an overall deficit of 4.8 billion U.S. dollars.
Meanwhile, the country’s gross international reserves (GIR) increased to 111.3 billion U.S. dollars, at the end of Nov.
“This level of reserves remains an adequate external liquidity buffer, equivalent to 7.4 months’ worth of imports of goods and payments of services and primary income,” said the BSP, adding that, it covers about four times the country’s short-term external debt, based on residual maturity.– NNN-PNA