The Central Bank of the Philippines published preliminary data showing gross international reserves (GIR) of USD 107.5 billion as of end-March 2026. The reported level is equivalent to 7.1 months’ worth of imports of goods and payments of services and primary income, and about 3.9 times the country’s short-term external debt based on residual maturity. GIR comprises foreign-denominated securities, foreign exchange, and other reserve assets including gold, and is described as a buffer against external economic shocks that supports import payments, foreign debt servicing, and currency stabilization. The release reiterates two adequacy benchmarks: the conventional minimum of at least three months of import and related payments coverage, and a level at least equal to 100 percent of total short-term external debt falling due within the next 12 months, with residual maturity defined to include original short-term debt plus principal payments on medium- and long-term loans due within the next 12 months.
Central Bank of the Philippines 2026-04-07
Central Bank of the Philippines reports gross international reserves of USD 107.5 billion at end-March 2026
The Central Bank of the Philippines reported preliminary gross international reserves of USD 107.5 billion as of end-March 2026, equivalent to 7.1 months of imports of goods and payments of services and primary income and about 3.9 times short-term external debt on a residual maturity basis. The release reiterates reserve adequacy benchmarks of at least three months of import coverage and 100 percent of total short-term external debt falling due within the next 12 months.