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NEWS UPDATES Asean Affairs   December 18,  2017  

PHL payments position swings to $662-M deficit in Q3

The Philippine balance of payments (BOP) position registered a deficit in the third quarter of the year, from a surplus year-on-year,the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

The payments position posted a $662-million shortfall in July to September, a reversal from $289 million of surplus in the second quarter.

In the third quarter of 2016, the BPO registered a surplus of $1 billion.

The BOP is a record of the country’s transactions with rest of the world in a particular period.

BSP Director Rosabel Guerrero noted the BPO shortfall was a result of higher outflows in the financial account—largely composed of direct and portfolio investments.

“Net outflows in the financial account increased to $855 million following the reversal of the portfolio investment account to net outflows which more than offset the significant improvement in net inflows of direct investments,” Guerrero said during a briefing in Manila.

The current account sums up of the balance of trade-in-goods and services and remittances.

In the third quarter of the year, the current account posted a $554-million surplus from a deficit of $30 million a year earlier.

“The current account surplus, however, was not adequate to offset the increased net outflows in the financial account, resulting in a deficit in the overall balance of payments position in the third quarter,” Guerrero noted.

“The current account surplus was spurred by the continued growth in exports of goods, BPO-related transactions and travel services, and personal remittances,” she said.

In the first nine months of 2017, the BOP yielded a $1.4-billion deficit from a $1.6-billion surplus in January to September last year.

“This development stemmed mainly from the reversal of the financial account to net outflows from net inflows a year ago,” Guerrero said.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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