THE Philippines’ balance of payments (BoP) reverted to a 16-month high deficit of $1.35 billion in the first month of the year, which the Bangko Sentral ng Pilipinas (BSP) attributed to foreign currency withdrawals.
Central bank data showed that the amount was a turnaround of the $2.70-billion and $1.57-billion surplus recorded in January and December 2019, respectively.
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