The Philippines’ net obligations to foreign parties were halved in the fourth quarter of last year due to a decline in borrowings by private nonbank corporations and an increase in investments by Filipino households with extra funds to spare due to a decline in spending during the pandemic.
According to the Bangko Sentral ng Pilipinas (BSP), the country’s net external liability position narrowed to P915 billion in the last three months of 2020 from P1.9 trillion in the same period of 2019.The 53.1-percent improvement in the country’s net debtor position against the rest of the world was driven by the surge in the BSP’s net foreign claims, a decline in nonfinancial corporations’ net li…
Keep on reading: PH external liabilities halved in Q4 of 2020