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August 10, 2007

Net foreign direct investments down 22.5% in first 5 months
Net foreign direct investments (FDI) in the Philippines in the first five months of the year fell 22.5 percent from a year before to 905 million U.S. dollars due to loan repayments by some companies to their affiliates abroad, local media reported on Auugust 10.

In May alone, net FDI inflows were 59.7% lower at US$151 million compared to US$375 million recorded in the same month last year, according to a report by Inquirer news network.

"The peso strength and solid economic growth could have facilitated (inter-company loan) repayments," Philippine central bank governor Amando Tetangco Jr. was quoted as saying.

However, he said the net FDI inflows for the first five months remained on track relative to the projected net inflows of US$2.1 billion for 2007.


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