Economist: PH int’l reserves still robust despite decline

An economist said Wednesday the gross international reserves (GIR) remained strong amid the decline, and still a boost to the local currency and the country’s investment grade rating.

Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the latest foreign reserves level of the country is enough to cover 7.5 months-worth of imports and is still way above the three to our operations further,” president and CEO Emmanuel Rubio said.

“Aside from providing shareholder returns, AboitizPower will reinvest the money to the business to help fuel growth and realize our aspiration of having a 50:50 balance between our renewable and thermal portfolios by 2030,” he added.

Aboitiz Power reported a 32% increase in its net income for 2022, on the back of fresh

FABOITIZ, P10 four months minimum internal threshold.

Ricafort said this could still provide greater support on the peso exchange rate against any speculative attacks.

“Thus, still relatively high GIR at USD99.3 billion could still strengthen the country’s external position, which is a key pillar for the country’s continued favorable credit ratings for the second straight year, mostly at