Philippines' BoP posts $80-M surplus in June

The Philippines' balance of payments (BoP) recorded a $80-million surplus in June, marking the fifth consecutive month of surplus but the smallest since January.

This compares to a $404-million deficit in June 2019 and a $2.431-billion surplus in May this year.

The BoP surplus was primarily due to foreign loan proceeds deposited by the National Government (NG) with the Bangko Sentral ng Pilipinas (BSP), along with the BSP's income from its investments abroad, offset by NG’s foreign currency debt payments.