July Gross International Reserves at Record High

Gross international reserves (GIR) rose to $85.49 billion as of end-July this year. This is higher by $210 million than the previous month’s $85.28 billion and is enough to cover 10.5 months’ worth of imports. The record-high is mainly because of an increase in the value of the gold holdings of the central bank. This gives policy makers a wider buffer to deal with any external economic shocks…

Subscribe via email for complete access to Supreme Consult’s weekly report on political and investment risks in the Philippines.

Advertisements