According to the BSP, the 2020 IIP external liability translates to a 47.9 percent improvement from the 2019 liability of $38.8 billion.
Compared to the previous quarter’s $10.6 billion , the net external liability position went up by 90.3 percent. In the meantime the external financial liabilities increased by 8.4 percent year-on-year due primarily to the National Government’s foreign borrowings via issuance of debt securities and other foreign loans.
According to the BSP, the positive revaluation adjustments in FPI and FDI were seen in the peso appreciation and the moderate rebound in the trading of listed shares during the months of October to December last year. Sentiments improved with the gradual reopening of the economy and the start of the COVID-19 vaccine rollout around the world.
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