Monetary authorities believe that the government’s infrastructure program will temper the impact of external developments on short-term investments. Foreign portfolio investments turned positive in March based on latest data, recording the biggest net inflow in three years. The $1.132-billion net “hot money” inflow — the largest since February 2015 — came as investments in peso debt instruments and Philippine Stock Exchange-listed securities more than offset outflows. Year-to-date hot money flows were also positive with a net inflow of $749.43 million. The Duterte administration is targeting a “Golden Age of Infrastructure” via its “Build Build Build” program, which will be backed by a budget that could reach P8 to P9 trillion over the government’s six-year term.

Source: Manila Times April 29, 2018 16:41 UTC