Foreign reserves dip as gov't settles debts

May 09, 2024 12:34 am

THE country's gross international reserves (GIR) slipped in April as the government paid off some of its debt and used foreign currencies for some spending items, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday.

GIR settled at $103.4 billion as of end-April, down from $104.1 billion a month earlier, but was said to be still more than adequate to pay for the country's imports and short-term debt.

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