THE country's balance of payments (BOP) hit a $2.3-billion deficit in November, the widest in over two years, from the shortfalls of $216 million and $724 million, respectively, recorded a year and a month earlier.
The Bangko Sentral ng Pilipinas (BSP) attributed the deficit to the "national government's (NG) net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures, and the BSP's net foreign exchange operations."
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