BOP posts $ 231 million deficit at the end of April – Manila Bulletin

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The balance of payments posts a deficit of 231 million dollars at the end of April

The central bank said the country’s balance of payments (BOP) deficit fell to $ 231 million in the first four months due to the surplus of $ 2.614 billion recorded for the month of April.

The balance of payments deficit improved from $ 2.844 billion at the end of the first quarter or end of March. This is, however, a reversal of the surplus of $ 1.598 billion over the same period in 2020.

“Based on preliminary data, this cumulative balance of payments deficit was in part due to the country’s merchandise trade deficit and net outflows of foreign portfolio investment,” Bangko Sentral ng Pilipinas (BSP) said.

The surplus in the balance of payments for the month of April is higher than the same period last year, at 1.666 billion dollars.

The BSP said the balance of payments surplus in April was due to National Government (NG) deposits from its ROP Global and Samurai bond issue last April.

NG issued $ 2.52 billion ROP Global Bonds due April 2025, April 2033 and April 2041. It also raised $ 498 million ROP Samurai Bonds due April 2024.

The BSP, releasing the latest BOP, also confirmed final gross international reserves (GIR) at the end of April, which stood at $ 107.71 billion, compared to $ 104.48 billion at the end of March. The final level of GIR is seen as “more than an adequate external liquidity cushion, which can help cushion the national economy against external shocks”. The BSP projects a balance of payments surplus of $ 6.2 billion this year and $ 3.8 billion in 2022. The GIR, meanwhile, is expected to reach $ 114 billion this year and $ 117 billion in 2022.



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