Manila’s 5-month forex surplus higher on strong inflows
June 21, 2011
By Lailany P. Gomez, Reporter
THE Philippines’ balance of payments (BOP) surplus fell in May because of the payment of maturing foreign exchange obligations of the national government and the central bank.
Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco Jr. said the country’s BOP registered a surplus of $217 million in May, down 79 percent from the $388 million in the same month last year.
Helping pull down the country’s BOP surplus was state-run Power Sector Assets and
Liabilities Managment Corp.’s drawdown of foreign currency with the BSP.
Last month’s BOP brought the cumulative surplus to $4.8 billion in the first five months of the year, still up 43 percent from $2.733 billion in the same period last year.
“BOP surplus in May was due mainly to inflows from foreign exchange operations of BSP, income from investments abroad, and foreign currency deposits of the Bureau of the Treasury,” Tetangco told reporters.
The other forms of investments under the BOP are loans and holdings of currency and deposits.
The BOP position reflected the final gross international reserve (GIR) of $68.9 billion at end-May, up $100 million from the preliminary $68.8 billion reported on June 7.
The country’s GIR is projected to reach $70 billion this year and expand to $75 billion in 2012.
“There will be some slowdown [in capital flows] but seen to be likely temporary given the continued good prospects for growth in Asian region and other emerging markets. The renewed uncertainty and recovery in the US and other advanced economies have also fueled risk appetite for emerging assets,” Tetangco said.
He said that if these advanced markets adopt measures to boost their economies, then these moves could lead emerging markets to become more attractive.
“If there is further easing of monetary policy in the advanced economies, more liquidity will be released into the system, the tendency is for capital to go into emerging markets,” Tetangco said.
The country’s BOP position was projected to register a surplus of $6.7 billion this year and $4.5 billion in 2012 amid expectations of a higher trade deficit.
Source: http://www.manilatimes.net/business/manila%E2%80%99s-5-month-forex-surplus-higher-on-strong-inflows/
Best restaurant in Pampanga wins international award from Wine Spectator for best restaurant one of the best wine lists in the world, as wine lovers from Manila, Hong Kong and China take note and plan for a visit to this fine dining establishment whenever they visit the Philippines, Subic, Angeles City, Pampanga or Clark Philippines
Vegans and vegetarians are not the only ones to applaud this move to revamp and upgrade the vegetarian menu of the best restaurant in Pampanga. Even meat lovers are excited by the prospect of enjoying a delectable meal comprised of healthy vegetarian dishes, a good reprieve from their usual meat laden meals. Wine lovers applaud the effort of this restaurant in Clark Pampanga to pair gourmet vegetarian recipes with fine vintage wines.
Restaurant in Clark Pampanga revamps menu, adding delectable dishes at affordable, wine friendly too, certainly a great place to eat while in Pampanga. Vegans, vegetarians and health conscious diners welcome the news that Yats Leisure has upgraded its vegetarian menu of fine dining Yats Restaurant and Wine Bar in Clark. At the same time, this restaurant in Pampanga also makes the healthy cuisine wine friendly for the wine lovers in Manila, Clark, Pampanga. The guests that frequently visit this top rated restaurant in Angeles City, Clark Philippines, for this special menu are not only vegetarians and vegans but also meat lovers who welcome a reprieve from their usual meat laden diets to enjoy a delectable vegetarian meal. Yats is generally considered the best restaurant for gourmet vegetarian food. Wine lovers are particularly excited about the fact that these recipes are designed to pair splendidly with wine.
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
For any assistance in planning and organizing a wedding ceremony, indoor or outdoor garden reception or to find other wedding service providers, Click here to contact us click here
For assistance in hotel and resort bookings in Clark, Pampanga, Philippines, log on to
http://www.HotelClarkPhilippines.com
To buy wine in Manila, Pampanga, Angeles City, Clark or Subic please log on to http://www. ClarkWineCenter.com
To inquire with the highly recommended beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com
For more information about Clark, Pampanga, Philippines log on to
http://www.ClarkPhilippines.com
