RP's Jan BOP surplus at $1.74B


Posted at Feb 16 2009 02:06 PM | Updated as of Feb 16 2009 11:07 PM

The Philippines recorded a balance of payments (BOP) surplus of $1.74 billion in January, recovering from a deficit of a revised $275 million in December with proceeds from a $1.5 billion global bond, the central bank said on Monday.

The overall BOP surplus in 2008 fell to a four-year low of $89 million after a record $8.58 billion in 2007.

No official BOP estimate has been released for this year but central bank Governor Amando Tetangco has said a small surplus was likely.