Foreign portfolio investments or hot money posted net outflows of $574 million last year, lower by 86.5 percent than the net outflows of $4.24 billion in 2020, as the pandemic continued to impact global financial markets, data from the Bangko Sentral ng Pilipinas show.
The 2021 figure also missed the $1.5-billion net inflows target for the year set by the BSP.
The BSP said that in December, foreign portfolio investments yielded net outflows of $4.38 million, lower than the $524-million net outflows a year ago.
“The net outflow transactions in December 2021 resulted from the $1.336-billion gross outflows and $1.332-billion gross inflows for the month. This is a reversal from the $110-million net inflows recorded in November 2021 but is lower compared to the $524-million net outflows recorded in December 2020,” the BSP said in a statement.
The BSP expects hot money to post a $5.7-billion net inflow in 2022.