Net inflows of foreign direct investments (FDI) in February hit its lowest level in six months, dragging the year-to-date tally by double digits, according to the Bangko Sentral ng Pilipinas (BSP). It said net investments in debt instruments fell by 26.4 percent to $317 million from $431 million a year earlier. Also, net placements of equity capital decreased by 43 percent to $129 million from $227 million in the same month last year. Meanwhile, the BSP blamed the dive in net FDI inflows for the first two months on the 44.1-percent fall in intercompany borrowings to $550 million from $984 million in the same period last year. Last year, net FDI inflows sank to a four-year low of $7.64 billion on the back of dampened investor sentiment because of global uncertainties.

Source: Manila Times June 11, 2020 17:24 UTC