MANILA, Philippines—More dollars came in than left in April as the national government took on more foreign loans to spend on its COVID-19 response, according to the Philippine central bank.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country’s overall balance of payments position posted a surplus of $2.61 billion in April 2021, higher than the $1.67 billion dollar flow surplus recorded in the same month in 2020.
The balance of payments surplus in April 2021 was attributed to inflows arising mainly from proceeds of the national government’s global and samurai bond issuances, which were deposited with the BSP.
The balance of paym…
Keep on reading: Foreign loans by gov’t bring in more dollars to PH economy