This growth is largely attributed to the government's substantial foreign currency deposits with the Bangko Sentral ng Pilipinas (BSP), alongside appreciations in the BSP's gold holdings and earnings from overseas investments.
Significantly, the current GIR provides a robust external liquidity buffer, covering 7.7 months of import expenses and standing strong at 6.1 times the short-term external debt, the BSP said.
Additionally, net international reserves also climbed by $1.8 billion to $103.8 billion, reinforcing the country's economic stability amid global uncertainties, it added.
