Philippines net external liability widens to $54.9 billion
• The Philippines' net external liability widened to $54.9 billion in the first quarter of the year. • This increase was driven by a sharper decline in external assets compared to liabilities, caused by lower reserve assets, foreign exchange operations, and weak global market conditions. • The Bangko Sentral ng Pilipinas (BSP) utilizes the International Investment Position (IIP) to track what the country owns abroad versus what it owes to nonresidents.
philstar.com





