Philippines' gross international reserves rises to 107.25 bln USD in April

2021-05-14 10:36:10 GMT2021-05-14 18:36:10(Beijing Time) Xinhua English

MANILA, May 14 (Xinhua) -- The Philippines' gross international reserves (GIR) level rose monthly by 2.77 billion U.S. dollars to 107.25 billion U.S. dollars as of April-end, the Philippine central bank said on Friday.

The Bangko Sentral ng Pilipinas (BSP) said the latest GIR level "represents a more than adequate external liquidity buffer, which can help cushion the domestic economy against external shocks."

"This buffer is equivalent to 12.3 months' worth of imports of goods and payments of services and primary income," the BSP said in a statement.

"It is also about 7.5 times the country's short-term external debt based on original maturity and 5.2 times based on residual maturity," the central bank added. Enditem

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