Over $4B in 'hot money' exits PH markets in 2020

Over $4 billion in foreign portfolio investments (FPI) left the Philippines last year amid the coronavirus pandemic.

This represents a 123% increase from the $1.9 billion net outflow recorded in 2019, marking the highest net outflow since at least 2012.

The central bank attributed this trend to factors such as the global impact of the COVID-19 pandemic, geopolitical tensions, corporate governance issues, and extended community quarantine measures.

Specifically, $3.3 billion was withdrawn from PSE-listed shares, $931 million from peso government securities, and $22 million from other portfolio instruments.