Net inflows of foreign direct investments (FDI) declined to a two-month low in January despite expanding from a year earlier, data from the Bangko Sentral ng Pilipinas (BSP) showed on Wednesday. These inflows grew by 12.1 percent to $657 million — the lowest since November’s $623 million — from $586 million in the same month last year. Net availments of debt instruments, meanwhile, plunged by 57.9 percent to $233 million from $553 million year-on-year. Reinvestment of earnings also decreased by 5.1 percent to $72 million in the month from $76 million a year earlier. Last year, net FDI inflows sank to a four-year low of $7.64 billion on the back of dampened investor sentiment because of global uncertainties.

Source: Manila Times May 27, 2020 17:03 UTC