Data from the Bangko Sentral ng Pilipinas (BSP) showed FDI contracted in April as nonresidents’ net investments in debt instruments decreased by nearly 39 percent to $407 million from $665 million in the same month in 2023.
Net investment in debt instruments consisted mainly of intercompany borrowings between foreign direct investors and their subsidiaries or affiliates in the country.
Data also showed that nonresidents’ net investments in equity capital (other than reinvestment of earnings) dropped by 48 percent to $68 million in April from $132 million a year ago.
Likewise, their reinvestment of earnings inched down by 4.2 percent to $81 million from $84 million in the same month last year.
This story is from the July 11, 2024 edition of The Philippine Star.
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This story is from the July 11, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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