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Tsikot Member Rank 3
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July 7th, 2012 11:34 PM #41i think it's a good investment like other investment they already did...
from: www.inquirer.net
Forex reserves hit $76.29B in June
By: Michelle V. Remo
Philippine Daily Inquirer
12:48 am | Saturday, July 7th, 2012
MANILA, Philippines–The country’s gross international reserves (GIR) surged 11 percent in June to $76.29 billion from $69 billion a year ago, aided partly by the central bank’s income from its portfolio investments and the increase in the price of gold in the world market.
The Bangko Sentral ng Pilipinas on Friday reported that the end-June GIR was also up 0.3 percent from $76.08 billion in the previous month.
The Philippines’ usual sources of foreign-exchange reserves are remittances from overseas Filipinos, investments in portfolio instruments and export earnings.
The BSP said the latest GIR was equivalent to 11.2 months’ worth of the country’s imports and was six times the country’s short-term debts denominated in foreign currencies.
Monetary officials said the reserves indicated a comfortable external liquidity of the country.
They said the reserves were one of the reasons the country’s credit image has improved over the years. Earlier this week, international credit-rating firm Standard & Poor’s raised the country’s credit rating from BB to BB+, just a notch below investment grade.
S&P cited the country’s rising external liquidity and the declining debt burden of the national government. Both manifested the country’s improving ability to pay its liabilities to foreign creditors, it said. The rating was assigned a “stable” outlook, which means it could stay the same for about a year until the next review.
Fitch Ratings likewise assigned the Philippines a rating that was a notch below investment grade. Moody’s Investors Service, the most pessimistic among the three major international credit watchdogs, assigned the Philippines a rating that was two notches below investment grade.
The Philippines is pitching for an investment grade, which economic officials believed could substantially drive job-generating foreign direct investments into the country. Economic officials claimed that some of the country’s economic indicators were already comparable to those of countries with investment grade.
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BANNED BANNED BANNED
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July 8th, 2012 04:09 AM #42$%*#&*&, mas maraming pera pa ang Apple than the Phllippines
6 things Apple could do with its $100 billion in cash- MSN MoneyLast edited by hein; July 8th, 2012 at 04:15 AM.
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July 8th, 2012 11:05 AM #43
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July 24th, 2012 10:17 AM #44
Nabanggit ba itong "$1B" sa SONA kahapon? parang sinabi lang yatang tayo na ngayon ang nagpapautang,- pero hindi sinabi ang amount....
16.4K:bond:
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see my pahabol statement above. i mean, i can go on vacation anytime. but my spouse has her...
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