GROSS INTERNATIONAL RESERVES                             
  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 Dec 22,966.72 131.70 2,941.30 2.33 19,611.41 279.98 4.23 458.51 250.07  
   
  2007 Jan 23,694.35 130.46 2,975.85 4.54 19,995.27 588.23 4.34 473.04 258.87  
  Feb 24,542.16 131.73 2,987.63 1.69 21,004.00 417.11 4.46 489.96 256.91  
  Mar 24,684.41 132.21 3,008.36 1.70 20,804.08 738.06 4.47 482.31 256.70  
  Apr 25,089.60 133.61 3,040.19 1.71 21,428.90 485.19 4.52 490.22 262.44  
  May 25,599.28 132.44 2,992.37 0.62 21,855.14 618.71 4.59 500.18 262.93  
  Jun 26,382.95 132.68 2,928.24 0.62 23,022.74 298.67 4.70 443.63 229.26  
  Jul 28,019.00 134.13 3,024.09 1.40 24,607.95 251.43 4.94 471.15 243.60  
  Aug 30,485.13 134.26 3,122.51 0.25 27,002.87 225.24 5.37 512.61 259.91  
  Sep 30,902.16 136.36 3,034.47 0.26 27,498.73 232.34 5.40 446.24 243.34  
  Oct 32,498.08 137.96 3,365.23 1.84 28,724.38 268.67 5.63 469.29 258.15  
  Nov 32,719.24 139.30 3,330.72 0.74 28,978.05 270.43 5.61 472.48 259.84  
  Dec 33,751.05 138.27 3,540.61 0.74 29,715.21 356.22 5.69 476.44 260.51  
   
  2008 Jan 34,809.73 139.75 3,857.71 1.06 30,511.44 299.77 5.79 491.39 270.85  
  Feb 36,287.80 141.08 4,059.50 0.08 31,756.01 331.13 5.97 512.25 293.66  
  Mar 36,624.01 144.06 3,834.39 0.08 32,274.85 370.63 5.95 550.65 296.10  
  Apr 36,355.57 142.32 3,584.75 13.37 32,228.27 386.86 5.85 546.62 297.80  
  May 36,233.12 141.97 3,795.61 12.61 31,884.16 398.77 5.77 544.78 300.84  
  Jun 36,712.28 143.20 3,962.94 12.71 32,223.58 369.85 5.75 417.33 265.90  
  Jul 36,900.99 142.08 3,904.11 12.61 32,545.36 296.83 5.66 419.47 266.99  
  Aug 36,742.72 137.61 3,568.84 11.49 32,672.28 352.50 5.61 408.39 266.85  
  Sep 36,697.45 135.55 3,848.44 11.32 32,292.70 409.44 5.54 442.19 r 286.01 r
  Oct 35,951.58 130.46 3,516.51 10.90 31,832.29 461.42 5.43 433.20 r 274.25 r
  Nov 36,828.15 130.03 3,808.98 10.25 32,374.42 504.47 5.56 443.77 r 281.67 r
  Dec p 37,059.23 135.02 4,357.93 10.25 31,599.62 956.41 5.60 446.55 283.33  
                                           
   
  1 Number of months of average imports of goods and payment of services and income that can be financed by reserves.   Figures starting  
  January 2008 were revised to reflect data based on the Third Quarter 2008 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 30 September 2008.  
   
  Source:  Bangko Sentral ng Pilipinas