The Central Bank of the Philippines published preliminary data showing gross international reserves (GIR) climbed to an all-time high of USD 112.7 billion as of end-February 2026. The reserve level was equivalent to 7.5 months of imports of goods and payments of services and primary income, and covered about 4.2 times the country’s short-term external debt based on residual maturity. GIR comprise foreign-denominated securities, foreign exchange, and other reserve assets including gold. Short-term external debt on a residual maturity basis is defined as external debt with original maturity of one year or less plus principal payments on medium- and long-term loans falling due within the next 12 months; the release also noted conventional adequacy benchmarks of at least three months of import cover and at least 100 percent coverage of short-term external debt falling due within 12 months.
Central Bank of the Philippines 2026-03-06
Central Bank of the Philippines reports record USD 112.7 billion gross international reserves at end-February 2026
The Central Bank of the Philippines reported that gross international reserves reached a record USD 112.7 billion by end-February 2026, covering 7.5 months of imports and 4.2 times the short-term external debt. The reserves include foreign-denominated securities, foreign exchange, and gold, surpassing conventional adequacy benchmarks.