Outstanding External Debt Declines Further in 1Q 2017

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. announced that outstanding Philippine external debt stood $73.8 billion as of end-March 2017, reflecting a decline of $958 million (or 1.3 percent) from the $74.8 billion end-December 2016 level. The decline in the debt levels during the first quarter resulted mainly from: (a) prior periods’ […]
Continue reading…

 

BSP and Indonesia’s Financial Services Authority Begin ABIF Talks

Manila—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) and Indonesia’s Otoritas Jasa Keuangan (OJK) or Financial Services Authority signed the Letter of Intent (LOI) to formally start negotiations under the ASEAN Banking Integration Framework (ABIF) in a ceremony held yesterday in Jakarta. The signatories to the document are BSP Governor Amando M. Tetangco Jr. and OJK Chairman […]
Continue reading…

 

BSP and IFC to Strengthen Corporate, Environmental and Social Governance in the Banking Sector

Manila—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) and International Finance Corporation, a member of the World Bank Group, today signed a Memorandum of Understanding (MOU) to enhance capacities and raise environmental, social and corporate governance (ESG) standards among Philippine banks. Under the agreement, IFC will support the BSP in improving its assessment tools to promote good […]
Continue reading…

 

External Debt Ratios Remain at Comfortable Levels in 2015

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—BSP Governor Amando M. Tetangco Jr. announced that the outstanding Philippine external debt stood at US$77.5 billion as of end-2015, up by US$1.9 billion (or 2.5 percent) from the end-September 2015 level of US$75.6 billion. The increase in the debt level during the quarter was largely attributed to net availments of US$1.8 […]
Continue reading…

 

Philippines and Malaysia Sign Agreement on Entry of Banks under ABIF

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—The Bangko Sentral ng Pilipinas (BSP) and Bank Negara Malaysia (BNM) have agreed on the guidelines regarding the entry of Qualified ASEAN Banks (QABs) between the two countries. This is in line with strengthening intra-regional trade and investments under the ASEAN Banking Integration Framework (ABIF). The guidelines are contained in the […]
Continue reading…

 

End-February 2016 GIR Level Reaches $81.3B

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Preliminary data showed that the country’s gross international reserves (GIR) rose to $81.3 billion as of end-February 2016, according to BSP Governor Amando M. Tetangco Jr. This level was higher by $0.61 billion than the end-January 2016 GIR of $80.69 billion due mainly to revaluation adjustments on the BSP’s foreign currency-denominated […]
Continue reading…

 

February Inflation Lower at 0.9%

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Headline inflation slowed down to 0.9% year-on-year in February from 1.3% in January, but was within the BSP’s range forecast of 0.9-1.7% for the month. The latest figure brought the year-to-date average inflation rate to 1.1%, below the Government’s inflation range target of 3.0 percent ±1.0 percentage point for 2016. Similarly, core […]
Continue reading…

 

Personal Remittances Up 4% to $2.4B in September

Manila–(PHStocks)–Personal remittances from overseas Filipinos (OFs) rose by 4.3 percent year-on-year to reach $2.4 billion in September 2015, according to Bangko Sentral ng Pilipinas (BSP). On a cumulative basis, personal remittances totaled $20.4 billion in the first nine months of 2015, an increase of 3.9 percent from the level registered in the same period a […]
Continue reading…