Mr Lee Posted November 19, 2011 Posted November 19, 2011 92.4% drop is a huge number. BOP surplus plunges 92% to $208 M in Oct MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) reported yesterday that the country’s balance of payments (BOP) surplus plunged 92.4 percent in October due to the sudden reversal of foreign capital inflows amid the risk contagion from the fragile global economic environment as well as the sovereign debt crisis in Europe. Link to comment Share on other sites More sharing options...
Garpo Posted November 19, 2011 Posted November 19, 2011 It just goes to show that it is more of a global crisis then many had expected. It is much more than just the US and Euro problems. The trickle down effect on third world countries could be devastating in my opinion.Even China appears to be looking at troubles in the future as other countries are now expecting China to play by the rules which they have not for quite some time now. This is just in my opinion. Link to comment Share on other sites More sharing options...
Jim Sibbick Posted November 20, 2011 Posted November 20, 2011 Anything bad for the Philippines is good for expat foreigners with overseas incomes or investments. Regards: Jim Link to comment Share on other sites More sharing options...
Norseman Posted November 20, 2011 Posted November 20, 2011 This was an inevitable reversal. There were huge amounts of hot money flowing into this country when both the dollar and euro had issues. With the dollar looking more stable with budget cuts coming and the debt crisis being rectified hurts that hot money. The BSP should never have counted on hot money but they did. This was posted by a friend and I have to say he is looking more and more correct in his predictions. With the addition of Xmas money the dollar will be weak this time of year. Yet break out. Link to comment Share on other sites More sharing options...
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