PH’s BOP position hits $467-M surplus in AprilBy EIREENE JAIREE GOMEZhome/Business/Top Business/PH’s BOP position hits $467-M surplus in AprilTHE country’s overall balance of payments (BOP) position posted a $467-million surplus in April, reversing the $270-million deficit recorded in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. On a cumulative basis, the BOP position for the first four months registered a surplus of $4.27 billion, a turnaround from the $1.5-billion deficit recorded in the same period last year. ING Bank Manila senior economist Nicholas Antonio Mapa said the April 2019 surplus was achieved through improvements seen in the financial account, despite the continued presence of a current account deficit. That account likely saw a strong surplus after portfolio flows remained positive, while the government issued foreign currency debt in the January-to-April period. The current BOP position reflected the final gross international reserves (GIR) level of $83.88 billion as of end-April, BSP said.

Source: Manila Times May 20, 2019 16:30 UTC