MANILA, Philippines—Long term investments in the Philippines from overseas rose sharply in the third month of 2021 due mainly to the spike in foreign loans made during the coronavirus pandemic, according to the Bangko Sentral ng Pilipinas (BSP).
In a statement, the BSP said foreign direct investment net inflows grew by 139.5 percent to $808 million in March 2021 from the $337 million net inflow recorded in the same month of 2020.
The favorable performance last March brought the cumulative net inflows of long term foreign investments to $2.4 billion in the first quarter of 2021, higher by 45.1 percent than the $1.6 billion net inflows recorded in the same period in 2020.
“The i…
Keep on reading: Long term capital, pushed by pandemic borrowing binge, grows by 139.5 percent