Gross international reserves up — BSP

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The Bangko Sentral ng Pilipinas (BSP) on Tuesday announced that the Philippines’ gross international reserves (GIR) grew for the sixth straight month in April, as it rose to $83.96 billion last month from $83.61 in March.

According to the BSP, preliminary data showed that at that level, the Philippines has enough foreign exchange reserves for 7.4 months of imports and it is also equivalent to five times the country’s short term external debt, the BSP said.

Net international reserves, which subtracts the country’s short term liabilities from the GIR, also grew to $83.94 billion in April from $83.6 in March.

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