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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Philippines: Time ripe for sovereign wealth fund

Posted on 29 October 2012

In less than a decade, the Bangko Sentral ng Pilipinas (BSP) saw its gross international reserves (GIR) surge from $15.02 billion as of end-2002 to $80.1 billion as of end-September 2012—with the country’s unsung heroes, the overseas Filipino workers, steadily increasing their remittances.
This fivefold rise in the GIR, with three months to spare, has resulted in a very comfortable margin of safety for the BSP’s reserve-management push, since the end-September GIR already account for more than a year of imports………………………………………..Full Article: Source


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