PH gross reserves slide to $103.4-B in April | ABS-CBN
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PH gross reserves slide to $103.4-B in April
PH gross reserves slide to $103.4-B in April
ABS-CBN News
Published May 07, 2024 08:44 PM PHT
MANILA - The Philippines' gross international reserves slid to $103.4 billion in April from $104.1 billion in March, the Bangko Sentral ng Pilipinas said on Tuesday.
MANILA - The Philippines' gross international reserves slid to $103.4 billion in April from $104.1 billion in March, the Bangko Sentral ng Pilipinas said on Tuesday.
The BSP said the GIR level fell as the government withdrew foreign currency to pay the country's foreign debt and its other expenditures.
The BSP said the GIR level fell as the government withdrew foreign currency to pay the country's foreign debt and its other expenditures.
Foreign reserves however are still more than enough for the country's needs, the central bank said.
Foreign reserves however are still more than enough for the country's needs, the central bank said.
"The latest GIR level represents a more than adequate external liquidity buffer equivalent to 7.7 months’ worth of imports of goods and payments of services and primary income," the BSP said.
"The latest GIR level represents a more than adequate external liquidity buffer equivalent to 7.7 months’ worth of imports of goods and payments of services and primary income," the BSP said.
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"Moreover, it is also about 5.9 times the country’s short-term external debt based on original maturity and 3.6 times based on residual maturity."
"Moreover, it is also about 5.9 times the country’s short-term external debt based on original maturity and 3.6 times based on residual maturity."
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