THE Philippines’ international investment position (IIP) has a net liability of $31.6 billion at the end of March, widening from the net liability of $27.6 billion at the end of December, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.
Citing preliminary data, the BSP said the net position resulted from a decline in external financial assets of 1.1% and an increase in external financial liabilities of 0.5%.
Preliminary data released by the BSP showed the country’s IIP stood at a net external liability of $31.6 billion as of end-March, a 14.4% increase from the $27.6 billion seen at end-December 2021.
The BSP said on a year-on-year basis, external financial liabilities of $269.9 billion at the end of March were up 9.8%. Year on year, it rose by 9.8% from $245.9 billion.
The National Government and banks held financial liabilities worth $61.4 billion and $31.3 billion, respectively. Other entities accounted for $173.3 billion, the BSP said.
External financial assets amounted to $238.4 billion quarter on quarter at the end of March. They were up 3.8% year on year.
The BSP held 47% or $111.9 billion of the Philippines’ external financial claims.
Of these, 45% or $107.3 billion consisted of reserves. Debt instruments accounted for 16%, debt securities 13.4%, and equity capital 11.8%. — Diego Gabriel C. Robles
