NET inflows of foreign direct investments (FDI) in April hit its lowest level in 11 months, reflecting the continued impact of the coronavirus disease 2019 (Covid-19) pandemic on investor sentiment, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. Central bank data showed that April inflows declined by 67.9 percent to $311 million — the smallest since May 2019’s $280 million — from $971 million a year earlier. It pulled down the January-April figure to $1.98 billion, 32.1 percent smaller from a year ago. “The slowdown in FDI inflows reflected the continued weak global and domestic demand prospects prompting many investors to put on hold investment plans amid the unresolved Covid-19 pandemic,” the Bangko Sentral said in a statement.

Source: Manila Times July 22, 2020 05:03 UTC