MANILA – The Philippines’ gross international reserves grew for the sixth straight month in April, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.
The GIR rose to $83.96 billion last month from $83.61 in March, the BSP said, citing preliminary data.
At that level, the Philippines has enough foreign exchange reserves for 7.4 months of imports. It is also equivalent to 5 times the country’s short term external debt, the BSP said.
Net international reserves, which subtracts the country’s short term liabilities from the GIR, also grew to $83.94 billion in April from $83.6 in March. (ABS-CBN News)
