Philippines posts $639 million balance of payments deficit in April

May 21, 2024 - 10:34 AM
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1000 cash
This undated file photo shows one thousand peso bills. (The STAR/Walter Bollozos/File Photo)

 The Philippines’ overall balance of payments (BOP) position was at a deficit of $639 million in April from a surplus of $1.2 billion in March, the central bank said on Monday.

The cumulative BOP level for the first four months swung to a $401 million deficit. The Philippine central bank has forecast a $700 million BOP surplus for 2024.

—Reporting by Mikhail Flores; Editing by Martin Petty