INTERNATIONAL RESERVES OF THE BANGKO SENTRAL NG PILIPINAS             
  end of period                                      
  in million US dollars                                    
                                    Short-Term  
  External Debt Cover  
  Reserve  (in percent)  
  Position in Foreign Foreign Import Original   Residual  
  GIR the Fund Gold SDRs Investments Exchange Cover 1 Maturity Maturity  2  
  (1)= (2) (3) (4) (5) (6) (7) (8) (9)  
        (2 to 6)                                  
   
  2000 Dec 15,062.82 113.44 1,972.65 1.93 12,388.35 586.46 3.48 274.12 163.92  
  2001 Dec 15,692.24 109.37 2,216.17 13.99 12,805.30 547.41 4.04 261.54 143.64  
  2002 Dec 16,364.76 118.22 3,035.85 10.21 12,732.29 468.19 3.95 294.38 143.66  
  2003 Dec 17,063.06 129.81 3,408.19 1.77 12,945.41 577.88 4.03 276.15 140.66  
  2004 Dec 16,227.91 135.33 3,112.07 1.00 12,742.09 237.42 3.55 321.60 156.94  
  2005 Dec 18,494.35 125.04 2,568.38 0.84 15,397.53 402.56 3.82 289.20 131.56  
   
  2006 Jan 20,401.77 126.45 2,658.62 5.19 17,117.26 494.25 4.17 325.39 150.23  
  Feb 20,481.81 125.54 2,612.17 0.36 17,242.78 500.96 4.14 326.66 152.43  
  Mar 20,645.34 126.05 2,797.31 0.36 17,208.85 512.77 4.11 335.81 154.22  
  Apr 20,852.48 129.19 3,042.94 5.53 17,203.83 470.99 4.13 339.18 155.66  
  May 20,949.91 130.72 2,849.39 0.89 17,503.48 465.43 4.09 340.76 161.70  
  Jun 21,123.47 129.42 2,903.60 0.88 17,647.94 441.63 4.10 364.32 172.07  
  Jul 21,274.11 129.90 2,940.65 5.33 17,910.27 287.96 4.08 373.36 180.14  
  Aug 21,540.69 130.31 2,868.37 0.55 18,214.70 326.76 4.05 388.26 190.73  
  Sep 21,593.36 129.25 2,746.44 0.55 18,265.57 451.55 4.07 380.23 196.39  
  Oct 22,309.58 130.03 2,869.16 6.49 18,819.30 484.60 4.16 392.84 210.61  
  Nov 22,649.27 132.27 2,991.66 2.34 19,321.35 201.65 4.17 398.82 225.05  
  Dec 22,966.72 131.70 2,941.30 2.33 19,611.41 279.98 4.23 458.51 269.66  
   
  2007 Jan 23,694.35 130.46 2,975.85 4.54 19,995.27 588.23 4.34 473.04 281.07  
  Feb 24,542.16 131.73 2,987.63 1.69 21,004.00 417.11 4.46 489.96 280.00  
  Mar 24,684.41 132.21 3,008.36 1.70 20,804.08 738.06 4.47 482.31 267.44  
  Apr 25,089.60 133.61 3,040.19 1.71 21,428.90 485.19 4.53 490.22 265.39  
  May 25,599.28 132.44 2,992.37 0.62 21,855.14 618.71 4.60 500.18 269.78  
  Jun 26,382.95 132.68 2,928.24 0.62 23,022.74 298.67 4.72 443.63 253.58  
  Jul 28,019.00 134.13 3,024.09 1.40 24,607.95 251.43 4.96 471.15 266.72  
  Aug 30,485.13 134.26 3,122.51 0.25 27,002.87 225.24 5.40 512.61 291.17  
  Sep 30,902.16 136.36 3,034.47 0.26 27,498.73 232.34 5.43 446.24 278.22  
  Oct 32,498.08 137.96 3,365.23 1.84 28,724.38 268.67 5.65 469.29 295.52  
  Nov 32,719.24 139.30 3,330.72 0.74 28,978.05 270.43 5.63 472.48 r 295.22 r
  Dec 33,751.05 138.27 3,540.61 0.74 29,715.21 356.22 5.71 476.44 r 297.18 r
   
  2008 Jan 34,809.73 139.75 3,857.71 1.06 30,511.44 299.77 5.89 491.39 r 306.64 r
  Feb 36,287.80 141.08 4,059.50 0.08 31,756.01 331.13 6.14 512.25 r 329.56 r
  Mar p 36,508.05 144.06 3,834.39 0.08 32,160.60 368.92 6.18 515.36 319.13  
                                           
   
  1 Number of months of average imports of goods and payment of services and income that can be financed by reserves.   Figures starting
  2006 were revised based on the Fourth Quarter 2007 Balance of Payments (BOP) Developments report.  
  2 Refers to adequacy  of reserves to cover outstanding short-term debt based on original maturity  plus principal payments on medium and
  long-term loans of the public and private sectors falling due in the next 12 months.    
  p Preliminary  
  r Revised to reflect data on external debt as of 31 December 2007.  
   
  Source:  Bangko Sentral ng Pilipinas