Phl net external liabilities widen in Q1

The country’s net external liability position widened in the first quarter of the year due to higher investment flows and borrowings, a report from the Bangko Sentral ng Pilipinas (BSP) showed.

- KEISHA TA-ASAN

Preliminary data released by the central bank showed the country’s international investment position (IIP) stood at a net external liability of $59.3 billion in end-March, 15.5 percent higher than the net liability of $51.3 billion in end-December 2023.

The increase stemmed from the 3.8 percent growth in external financial liabilities, which amounted to $303.8 billion in end–March. This outpaced the 1.3 percent expansion in external financial assets, which reached $244.5 billion.

The first-quarter figure was also 25.8 percent higher than the net liability of $47.1 billion as of end-March 2023.