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’ […]
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January to April 2017 Remittances Reach $10B

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Personal remittances from Overseas Filipinos (OFs) amounted to $10 billion for January to April 2017, registering 4.7 percent year-on-year growth, BSP Governor Amando M. Tetangco, Jr. announced today. Personal remittances from land-based workers with work contracts of one year or more aggregated $7.8 billion while those from sea-based and land-based workers […]
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BSP Issues Supplemental Guidelines to Fast-track EMV Migration

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—In order to push the banking industry towards full adoption of EMV technology at a much faster pace, the Monetary Board (MB) recently approved the supplemental guidelines on BSP EMV migration requirement.  The guidelines prescribe a hard deadline for compliance as well as clearly defined consequences for non-compliant institutions. BSFIs are […]
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Foreign Direct Investments Hit $1.6B in 1Q 2017

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Foreign direct investments (FDI) registered $509 million net inflows in March 2017, higher by 30.6 percent than the $390 million recorded in the comparable period in 2016. Investments in debt instruments (or lending by parent companies abroad to their local affiliates to fund existing operations and business expansion) contributed largely to […]
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May Inflation Lower at 3.1 Percent

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Headline inflation slowed down to 3.1 percent year-on-year in May from 3.4 percent in April, but was within the BSP’s forecast range of 2.9-3.7 percent for the month. The resulting year-to-date average inflation rate of 3.1 percent was also in line with the Government’s target range of 3.0 percent ±1.0 percentage […]
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End-May 2017 GIR Level Stands at $82.07B

Manila—(PHStocks)—Preliminary data showed that the country’s gross international reserves (GIR) level rose to US$82.07 billion as of end-May 2017 compared to the end-April 2017 GIR level of $82.02 billion, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. announced. This level could adequately cover 9.1 months’ worth of imports of goods and payments of services […]
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BPI Announces Leadership Appointments

Makati—(PHStocks)—Bank of the Philippine Islands (PSE: BPI) announces the appointments of Ma. Cristina “Ginbee” L. Go as President of BPI Family Savings Bank and Natividad “Nabbie” N. Alejo as Chairman of BPI Direct BanKo Inc., A Savings Bank. Go takes over the post previously held by Alejo at BPI Family Savings Bank, while Alejo replaces […]
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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 […]
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