4:42 PM MYT MANILA, Jan 30 (Xinhua):The Philippine central bank has said that more foreign capital left the country in 2020 due to the uncertainties brought about by the Covid-19 pandemic, local media have reported.
The Bangko Sentral ng Pilipinas (BSP) said that foreign portfolio investments (FPIs) for 2020 yielded net outflows of US$4.2 billions.
The BSP said the net outflows are in the Philippine Stock Exchange (PSE)-listed shares (3.3 billion U.S. dollars), peso government securities (GS) (US$931 million), and other portfolio instruments (US$22 million).
The Philippine economy shrank by 9.5 per cent in 2020 because of the prolonged impact of the pandemic. National Statistician Dennis Mapa said the 2020 economic growth was the worst since the Philippine Statistics Authority started collecting annual data in 1946.