Be the one to know!!!
The Philippines’ surplus in its international financial transactions for the 11 months to November this year rose 47% despite a deficit posted last month, the central bank reported yesterday.
Data from the central bank showed the balance of payments (BoP) surplus for January to November rose 47.04% to $3.138 billion from $2.134 billion recorded in the same period last year.
The central bank registered a $17-million deficit for November, but this was still less than the $170-million shortfall in the same month last year.
BSP Governor Amando M. Tetangco, Jr. told reporters that "the smallBoP deficit in November was due to the debt pre-payment" of the government during November. Total prepayment in November amounted to $215 million.