PH’s IIP improved in 2020 Q3

PH’s IIP improved in 2020 Q3

The Bangko Sentral ng Pilipinas (BSP) remarked that the country’s international investment position (IIP) improved in the third quarter of 2020, posting a net external liability position of $4.77 billion at end-September, down 64.9 per cent from $13.58 billion at end-June.

The central bank credited the asset increase to the buildup of international reserve assets, which climbed by 7.5 per cent to $100.4 billion as of the third quarter from $93.5 billion three months earlier.

Further, BSP said that this growth is “more than offset the two per cent increase in the total external financial liabilities (or nonresidents’ outstanding claims on Philippine residents) to $227.7 billion.”

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