The latest net amount resulted from the $627.02-million inflows and $1.28-billion outflows in April. In a statement, the BSP said the $627.02-million registered investments last month reflected a 34.3-percent plunge from $953.77 million in March. Taking preliminary results from the first day of May into account, year-to-date hot money flows remained in the negative territory, with net outflows at $2.06 billion, a reversal of the $37.27-million net inflows a year ago. The Bangko Sentral targets to record net inflows of $8.2 billion this year. In a Viber message also on Thursday, BSP Governor Benjamin Diokno announced that monetary authorities were revisiting their 2020 forecasts for the country’s balance of payments, which includes foreign portfolio investments, foreign direct investments (FDI) and other external position indicators.

Source: Manila Times May 28, 2020 16:29 UTC