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BSP reveals $70M ‘hot money’ outflow from PH
The Philippines booked $70 million in net outflows of foreign portfolio investments in March, according to the Bangko Sentral ng Pilipinas.
The BSP said transactions on foreign investments registered with the central bank, through authorized agent banks in March showed gross outflows of $1.33 billion and gross inflows of $1.26 billion.
“This is smaller compared to the net outflows recorded in
February 2023 ($531 million) and in March 2022 ($305 million),” the BSP said.
Foreign portfolio investments are sometimes referred to as hot money due to the ease that they can enter and exit an economy.
The BSP said majority of investments (or 64.6 percent) registered were in PSE-listed securities, while the remaining went to investments in Peso government securities (35.4 percent) and in other instruments (less than 1.0 percent).
The top five sources of these investments last March were the United Kingdom, United States, Singapore, Luxembourg and Norway with combined share to total at 86.4 percent.
PH keeps out of US’ intellectual property watch list for 10 years
The Philippines has kept its clean record for 10 years in the United States Trade Representative’s (USTR) Special 301 Report, which listed countries where the US has intellectual property protection and enforcement concerns.
In the 2023 Special 301 Report released on Thursday (Manila time), the USTR listed seven countries under priority watch list and 22 nations under watch list.
The Philippines has remained out of the piracy watch list since 2014 after 20 years of being in the list of nations with intellectual property concerns.
“The country’s continued exclusion from the USTR’s list of countries with major intellectual property concerns reflects wins from the awareness and regulatory efforts of the Intellectual Property Office of the Philippines (IPOPHL),” IPOPHL Director General Rowell Barba said in a statement.
Barba said the report has even cited some of IPOPHL’s work as models of best practices in intellectual property protection and enforcement, particularly the agency’s Intellectual Property
