PHL net external liability position widens in Q1

THE PHILIPPINES’ international investment position (IIP) remained at a net external liability position in the first quarter, widening 8.1% from a quarter earlier to $54.924 billion amid heightened market volatility, according to the Bangko Sentral ng Pilipinas (BSP), as reported by BusinessWorld.

Year on year, the net liability position narrowed by 2%. The end-of-March figure reflects the country's external financial assets and liabilities, with liabilities exceeding assets.

The BSP attributed the quarterly widening to unfavorable revaluations due to volatile global financial markets. The IIP measures the difference between the country's external financial assets and liabilities.