End-April GIR declines on dollar obligations | Cai U. Ordinario

Indonesia Berita Berita

End-April GIR declines on dollar obligations | Cai U. Ordinario
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The country’s Gross International Reserves (GIR) reached over $100 billion as of the end of April 2023, but was slightly lower than its level the previous month and the same period last year, based on preliminary data from the BSP.

THE country’s Gross International Reserves reached over $100 billion as of the end of April 2023, but was slightly lower than its level the previous month and the same period last year, based on preliminary data from the Bangko Sentral ng Pilipinas .

The BSP’s reserve assets consist of foreign investments, gold, foreign exchange, reserve position in the International Monetary Fund , and special drawing rights. The BSP said the latest GIR level represents a more-than-adequate external liquidity buffer equivalent to 7.6 months’ worth of imports of goods and payments of services and primary income.

Moreover, it is also about 5.9 times the country’s short-term external debt based on original maturity and 4.1 times based on residual maturity.

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