FDI jumps in May, bucking annual slowdown

The country’s foreign direct investments (FDIs) posted a substantial jump in May, fueled by a major increase in loans from nonresidents, which helped to offset a drop in other types of foreign capital and presented a positive moment amid a broader slowdown in foreign investment for the year.

- By DERCO ROSAL

Net FDI into the Philippines in May grew by 21.3 percent year-on-year to $586 million from the $483 million recorded in the same period last year.

The central bank noted this growth was a result of an 88.3 percent expansion in nonresidents’ net investments in debt instruments, which surged from $227 million to $427 million. The BSP also said that reinvestment of earnings remained stable at $97 million.