‘Hot money’ net inflows drop 97% as of April

More short-term investments fled than entered the Philippines for the second month in a row---a phenomenon that regulators attributed to the delayed approval of the national budget, as well as economic jitters in the aftermath of last month's strong earthquake. In a statement, the Bangko Sentral ng Pilipinas said registered foreign portfolio investment transactions for April yielded net outflows of $299 million, resulting from gross outflows of $1.3 billion and gross inflows of $990 million. This follows similar net outflows of $739 million in March which contributed to the year-to-date portfolio flow tally to a mere $37.27 million---representing a 97-percent drop from the $1.2 bil...Keep on reading: ‘Hot money’ net inflows drop 97% as of April

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