Foreign direct investment (FDI) poured into the Philippines in January grew 41.5 percent year on year to 961 million USD, according to the country’s central bank Bangko Sentral ng Pilipinas (BSP).
The Philippine central bank on April 16 lowered its interest rates by 50 basis points to 2.75 percent, the lowest on record, to keep the economy afloat amid the COVID-19 pandemic.
The central banks of Indonesia and the Philippines on September 27 decided to raise interest rates, following the similar move by the US’ Federal Reserve.
The Philippines' outstanding external debt stood at 72.2 billion USD by the end of June 2018, down by 997 million USD or 1.4 percent from the end of March 2018, the country’s central bank has announced.
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