The country’s external debt service burden was down by 17 percent end-June to $3.983 billion from $4.80 billion same time last year, data from the Bangko Sentral ng Pilipinas (BSP) showed. Debt service burden is principal and interest payments on both the public and private sector debts...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the central bank’s ability to issue its own securities will improve both liquidity and inflation control, especially after infusing over P1.4 trillion of money supply in the financial system since the pandemic began. Benjamin...
Because of the pandemic and temporary suspension of some of its open market facilities, the Bangko Sentral ng Pilipinas (BSP) earned less in the second quarter, reducing its six-month net income to P13.714 billion or 54.1 percent lower than same time in 2019 of P29.883 billion. The BSP has been...
The country’s current account surplus improved to $4.4 billion in the first six months of the year, reversing the $2.6 billion deficit reported same time in 2019, the Bangko Sentral ng Pilipinas (BSP) said Friday. BSP Deputy Governor Francisco G. Dakila Jr. said the better-than-expected current...
The Bangko Sentral ng Pilipinas’ (BSP) maiden auction of 1-month BSP Bills, offered at P20 billion initially, received tenders amounting to P43.36 billion in Friday’s bids. This is the first central bank issued securities since the “JOBO” Bills in the 1980s. MB file photo. According...
The Bangko Sentral ng Pilipinas (BSP) said that as of end-June this year, the Philippines’ outstanding external debt was higher at $87.453 billion, up by 7.6 percent or $6.2 billion from same time last year of $81.259 billion, as the government borrowed more to finance anti-COVID-19 pandemic...
The central bank’s term deposit facility (TDF) has a slightly lower volume this week of P350 billion while yields ended mixed. The 28-day TDF’s offer was cut from P50 billion from its September 9 auction to P20 billion ahead of the Bangko Sentral ng Pilipinas’ (BSP) first offering of BSP...
The central bank yesterday said for the first half of 2020 the country’s net foreign direct investments (FDI) inflows fell by 18.3 percent to $2.997 billion from $3.670 billion same period last year because of the COVID-19 pandemic. FDIs are equity capital, reinvestment of earnings, and...
Cash remittances sent by overseas Filipinos (OF) via the banking networks increased by 7.8 percent in July but January-July data still show a decline of 2.4 percent to $16.802 billion because of the COVID-19 pandemic. The 2.4 percent year-to-date (YTD) decline is recorded both for the cash and...
The central bank’s guidelines on the establishment of digital banks is expected to be approved this month, according to a Bangko Sentral ng Pilipinas (BSP) official. BSP Deputy Governor Chuchi G. Fonacier (Bloomberg file photo) BSP Deputy Governor Chuchi G. Fonacier said the circular will be...
The 48 thrift banks supervised by the central bank continue to be stable amid the COVID-19 pandemic despite decreased deposits and portfolio, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “During the first semester of 2020, we noted a decline in thrift banks’...
Humans have fascination for gold, it is part of who we are. It is part of civilization. It is a tangible liquid asset that is always short in supply and strong demand. Thus, in times of crisis like this pandemic, governments and companies run for safe assets by buying more gold. Since March this...
