Portfolio investments $4.6 B in 2010

There was a big jump in net foreign portfolio investments in the country last year. From only $388 M in 2009, it went up to $4.61 B in 2010.

Inflows was huge at $13 B (stockmarkets $8.5 B + peso-denominated govt securities and peso time deposits $4.5 B), while outflows was $8.4 B (mainly due to withrawals in peso deposits). See the news report last Friday here.

While the change in political leadership after the generally peaceful May 2010 elections contributed to improved business confidence in the country, bad business environment in Europe due to the fiscal crisis of a number of countries there (Greece, Ireland, Portugal, among others) and elsewhere contributed to the “migration”, even temporary, of capital to emerging economies like the Philippines.

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