Philippines posts record $4.48bn BoP deficit in Jan

The Philippines posted a record balance of payments (BoP) deficit of $4.48bn in January, when it saw its biggest-ever net portfolio outflows due to an emerging market rout, data from the
central bank showed yesterday.
But authorities expect the country’s external payments position to improve in coming months as markets grow calmer over the US Federal Reserve’s plans to scale back its massive stimulus programme.

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