More money is expected to flow out of the Philippines over 2025 and 2026, as the country is projected to import more than it exports and the services sector is seen to underperform, according to the Bangko Sentral ng Pilipinas (BSP). “The Philippine balance of payments (BOP) position is projected...
The Bangko Sentral ng Pilipinas (BSP) has strongly called on banks and non-bank financial institutions (NBFIs) to strengthen their surveillance and monitoring systems to prevent the misuse of digital channels for vote-buying in the upcoming May 12 elections. “The BSP strongly calls for the...
The Commission on Elections (Comelec) together with the Bangko Sentral ng Pilipinas (BSP) have officially completed the escrow deposit of the Final Trusted Build Source Codes for the upcoming National and Local Elections on May 12, 2025. (Photo from Comelec) This move ensures compliance with...
Double-digit increases in both principal and interest payments drove the Philippines’ external debt service burden up by $2.31 billion in 2024, reaching $17.16 billion. According to the Bangko Sentral ng Pilipinas (BSP), it reflects a nearly 16 percent increase from $14.85 billion in the...
After the decline in 2023, the Bangko Sentral ng Pilipinas’ (BSP) net income surged by ₱91.1 billion last year, reaching ₱117.6 billion, driven by higher revenues and lower expenses. Last year’s income was 344 percent or more than four times larger than the central bank’s ₱26.5-billion...
The Philippines’ balance of payments (BOP) position posted a $3.1 billion surplus in February this year, rebounding from the $4.08 billion deficit seen a month ago. According to the Bangko Sentral ng Pilipinas (BSP), it also marks a sharp rebound from the $196 million deficit recorded in February...
The Philippines’ financial system resources grew to ₱33.66 trillion as of end-January 2025, driven by the central bank’s monetary easing and reserve requirement cut, which boosted loan demand and bank assets. This is an increase of ₱2.48 trillion, or nearly eight percent, from ₱31.18...
Following the record-high remittances in December last year, Filipinos working and living overseas remitted a relatively lower amount in January, largely due to the seasonal drop in remittances following the holiday spending surge. Data from the Bangko Sentral ng Pilipinas (BSP) showed that cash...
The Philippines' foreign debt climbed by almost a tenth year-on-year to $137.63 billion as of end-2024, as both the government and private firms borrowed more from foreign sources for their productive activities, the Bangko Sentral ng Pilipinas (BSP) reported. In a statement on Friday, March...
The Philippines’ balance of payments (BOP) surplus dropped to $609 million in 2024, sharply lower than the $3.7 billion recorded in 2023, as a wider current account deficit weighed on the country’s external position. This BOP decline marks a nearly 84 percent, or $3.1 billion decrease,...
Actions are being taken by the Bangko Sentral ng Pilipinas (BSP) hand in hand with the Commission on Elections (Comelec) to prevent the use of both cash and e-wallet services in vote-buying during the upcoming elections, the central bank said. This comes after Comelec called on the BSP to decline...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. revealed that the global anti-money laundering watchdog has recognized the Philippines as a regional leader in combating financial crimes and terrorism financing, even tapping the country to assist others in strengthening their...
