The country’s external debt service burden rose by 21.6 percent to $5.93 billion as of end-July from $4.88 billion in the same time in 2020, based on Bangko Sentral ng Pilipinas (BSP) data. External debt principal payments increased by 37.39 percent year-on-year to $4.47 billion from $3.25...
The Bangko Sentral ng Pilipinas (BSP) is not inclined to increase the amount it lends to the national government on the back of the improving coronavirus situation in the country. BSP Governor Benjamin E. Diokno said Thursday, Oct. 14, that he does not see a need to raise the direct cash advance...
With the prolonged pandemic, the country's net external liability position increased 3.5 percent to P676.6 billion in the first quarter from same period last year of P653.8 billion due to higher net foreign liabilities by the general government and non-financial corporations (NFCs), a report from...
Banks' non-performing loans (NPL) ratio still remained unchanged at 4.51 percent in August from the previous month, July, the Bangko Sentral ng Pilipinas (BSP) reported. The total bad loans reached P491.93 billion in August or 61.28 percent from P304.99 billion the same month last year. Compared to...
The Bangko Sentral ng Pilipinas (BSP) advises the public that the 20-Piso New Generation Currency (NGC) banknotes remain as legal tender and can be used alongside the 20-Piso NGC coins for day-to-day transactions. Screen Shot 2021-09-27 at 9.52.28 PM BSP Gov. Benjamin Diokno also tweeted "The...
The Philippines balance of payments (BOP) position registered a $1.04 billion surplus in August, resulting in lower deficit in the first eight months of the year, the central bank reported. Philippines' end-August BOP deficit is reduced to $253 million Data from the Bangko Sentral ng Pilipinas...
Big banks in the country remained well-capitalized despite the prolonged pandemic-induced crisis, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin E. Diokno said that big banks’ capital adequacy ratio (CAR), a measure of lenders’ solvency, improved to 17.6 percent in the first...
More than 300 Japanese guests from Japan’s leading corporate and financial institutions have participated in the virtual Philippine Economic Briefing (PEB) that highlighted the Duterte administration’s efforts to push for a much stronger and more inclusive economy in the post-COVID-19 pandemic...
The Bangko Sentral ng Pilipinas (BSP) posted P25.57 billion in net income as of end-April, up 125.68 percent year-on-year, still fueled by miscellaneous income. Based on the BSP’s preliminary and unaudited statement of income and expense report , revenues expanded by 83.8 percent to P59.79...
The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative. BSP Gov. Benjamic Diokno and Finance Sec. Carlos Dominguez III Finance Secretary...
Legal issues of BSP’s ‘digital banknote’ initiative MB file After the Bangko Sentral ng Pilipinas (BSP) created a Technical Working Group (TWG) in June 2020 as initial research on a possible central bank digital currency (CBDC), it released a more comprehensive study in March this year on...
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo As expected, many economists and analysts missed on their forecasts of the Philippine inflation rate of 4.1 percent for June 2021. Public announcement of the monthly inflation rate is highly awaited by the market because it is both a history of price...
