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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Philippines: Foreign reserves slip to $36.69B in Sept

Posted on 08 October 2008

From Inquirer.net: The country’s gross international reserves edged slightly lower in September to $36.69 billion from $36.74 billion in August, the central bank said.

The monetary authority said the decline was partly due to foreign debt payments by the government and the withdrawal of some currency deposits by state-run Power Sector Assets & Liabilities Management Corp’s (PSALM). PSALM, the agency overseeing the privatization of the government’s power assets, has been repaying debts of the National Power Corp (Napocor) ahead of schedule to try to turn around the finances of the state-run power producer….. Full Article: Source


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