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The inflow of foreign direct investments went up by 23.1 percent to $686 million in March, bringing the total in the first three months to $2.97 billion or 42.1 percent higher than in the comparable period a year ago, data from the Bangko Sentral ng Pilipinas showed.

In a meeting three weeks ago, Malacañang had made it clear to the two erring Monetary Board (MB) members that they would have to resign on their own to resolve the ghost employee controversy surrounding them, as the President would not interfere with the legal action that the Bangko Sentral ng Pilipinas (BSP) was pursuing against the people involved.

The country’s foreign exchange buffer rose to a 25-month high of $104.48 billion in May from $102.65 billion a month ago, due largely to the national government’s higher foreign currency deposits with the Bangko Sentral ng Pilipinas (BSP).

Following the resignation of two of its members amid the unprecedented ghost employees scandal, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) now has two empty seats to be filled by President Marcos.

The share of soured loans to the banking sector’s total loan book increased to an 11-month high of 3.45 percent as of end-April, ending two straight months of decline, amid a high interest rate environment, according to the Bangko Sentral ng Pilipinas (BSP).