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PH gross international reserves at all-time high of US$90.9-B – BSP

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 Bombo Ponciano \’John\’ Melo Jr -June 11, 2020 | 6:18 PM

https://www.bomboradyo.com/ph-gross-international-reserves-at-all-time-high-of-us90-9-b-bsp/

The country’s overall balance of payments (BOP) position posted a surplus of US$1.67 billion in April 2020, higher than the US$467 million BOP surplus recorded in the same month last year.

The BOP surplus in April 2020 reflected mainly the inflows arising from the National Government’s deposit with the BSP of its foreign loan proceeds as well as the BSP’s foreign exchange operations and income from its investments abroad.

These inflows were partially offset, however, by the foreign currency withdrawals made by the National Government to pay its foreign currency debt obligations during the month in review.

The surplus in April 2020 brought the cumulative BOP position to a surplus of US$1.6 billion in the first four months of the year from a deficit of US$68 million in January-March.

However, this level was lower than the US$4.27 billion surplus recorded a year ago.

This development may be attributed partly to the reversal of foreign portfolio investments to net outflows in January-April from net inflows and lower net inflows of foreign direct investments in January-February compared to the previous year’s level.

The foreign portfolio investment outflows and lower foreign direct investments inflows were mitigated by the lower merchandise trade deficit and higher remittances from overseas Filipinos in January-March.

The BOP position reflects an all-time high final gross international reserves (GIR) level of US$90.94 billion as of end-April 2020. At this level, the GIR represents an ample external liquidity buffer, which is equivalent to 8 months’ worth of imports of goods and services and payments of primary income. Moreover, it is also about 5.5 times the country’s short-term external debt based on original maturity and 4 times based on residual maturity. (BSP)

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NBA Players pressured : Team Canada never bagged a Medal since 1930’s

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NBA Players pressured : Team Canada never bagged a Medal since 1930's

Team Canada has never bagged a medal in the FIBA World Cup since 1936. They have only won a silver in the Berlin Olympics.
Team USA Tyrese (Indiaaa Pacers) said that since the 1930s, Canada has never won a medal so they’re coming for them. 

Team Canada Kelly Olynyk (UTAH JAZZ), Alexander-Walker (Minnesota Timberwolves) , RJ Barrett (KNICKS), Brooks (Houston Rockets),  Luguentz Dort (Oklahoma City Thunder), Gilgeous-Alexander (Oklahoma City Thunder), and Norman Powell (LA Clippers) are all forced to win.
It can be recalled that Team USA lost to Germany and now settled for a bronze medal. 

Germany and Serbia clashed for FIBA Cup finals
Meanwhile, both countries are expected to play in the 2024 Summer Olympics in Paris, France.. 

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Bombo Radyo

NBA, House of Highlights stalks “underdog” Rhenz Abando

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NBA, House of Highlights stalks "underdog" Rhenz Abando

NBA Star Veteran  Minnesota Timberwolves forward Kyle Anderson was stunned with Rhenz Abando’s play during the (Fédération Internationale de Basketball) FIBA Cup.
Abando’s breath-taking highlights spread all over the world via House of Highlights (HOH) based in New York City owned by Warner Bros. Discovery Sports Interactive with 10.5M subscribers.
The HOH captured the blocks, dunks, and rebounds of the underdog Filipino Gilas Guard,  They featured Abando’s block to NBA Veteran Anderson.
Abando’s chemistry with Utah Jazz Point Guard  Shooting Guard Jordan Clarkson grab the attention of NBA fans. 
“Jordan Clarkson. As simple as that. They went up 20. He hit [four] threes in a row and got some tough buckets. He got going. He’s a really good player,” China team player and NBA veteran Anderson said as he was shocked with Abandos’s block. 

Meanwhile, NBA fans are expecting Abando to play in the NBA in the future which Kai Sotto failed to chgioved.

Abando 6’2″ height is the same with Stephen Curry. He has 3 points shooting and impressive defense worthy to join NBA.

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Austin Reeves beats Dennis Schroder yet TEAM US out

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Austin Reeves beats Dennis Schroder yet TEAM US out

The ex-Lakers player Dennis Schroder 17 points lost to present Lakers shooting guard Austin Reeves 21 points in FIBA semi finals.

Team Germany Dennis Schroder advanced to the FIBA Cup finals vs Serbia but TEAM US settled for Bronze vs Team Canada, 67 – 63.

Reeves’ hard work still did not make the team US to the finals.

The Lakers’ Reaves 21 points. Anthony Edwards 23 points, Mikal Bridges scored 17 and Jalen Brunson added 15 failed to defeat Germany, 113 – 111.Meanwhile, Andreas Obst 24 points, Franz Wagner 22 points, Daniel Theis 21 points and seven rebounds, Dennis Schroder 17 points and nine assists for Germany made it to the final showdown.
Reeves said  that if you give up 113 points in a 40-minute game, you’re not going to win many of those.

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