PHL payments position swings to $864M surplus in Jan. from a deficit in Dec.

The Philippine balance of payments position turned to a surplus in January from a deficit in December as foreign capital continued flowing to the country, the Bangko Sentral ng Pilipinas reported Monday.   Bangko Sentral data showed that the payments surplus was $864 million last month from a $114-million deficit in December.   Still, last month’s payments surplus was 46.2 percent narrower than the $1.606 billion a year earlier.   The Bangko Sentral expects the payments surplus to reach $2.8 billion this year.   The payments position or BOP is the difference between foreign exchange inflows and outflows in a given period, reflecting transactions with the rest of the world. — VS, GMA News