Central bank data released on Monday showed that the amount was wider than the $541 billion surplus a year ago but lower than the $3.4 billion recorded a month ago. “The BOP surplus in November 2020 reflected inflows mainly from the BSP’s foreign exchange operations and income from its investments abroad,” the BSP said in a statement. The BSP said the 11 months cumulative BOP surplus of $11.79 billion was higher than the $6.27-billion surplus recorded for the same period a year ago. It is also about 9.2 times the country’s short-term external debt based on original maturity and 5.3 times based on residual maturity. Ricafort said proceeds of the Philippine government’s $2.75-billion global bond (ROP bond) issuance would also be added to the BOP surplus and GIR in December 2020.

Source: Manila Times December 28, 2020 16:28 UTC