BusinessWorld E-paper
May 26, 2023
MORE SHORT-TERM foreign capital exited the Philippines for a third straight month in April, as investors worried over elevated inflation and high interest rates. Foreign portfolio investments
(FPI) — also known as “ hot money” because of the ease by which these funds enter and exit the economy — yielded a net outflow of $351.87 million in April, data from the Bangko Sentral ng Pilipinas (BSP) showed. This was a reversal of the $1.41-billion net inflow in April 2022.
