MANILA — The Bangko Sentral ng Pilipinas (BSP) welcomed the favorable assessment by credit rating agency Moody’s of the country’s access to external financing.

In its latest ratings review, which followed its affirmation of the Philippines’ Baa2 rating with a stable outlook in August 2024, Moody’s cited the country’s access to domestic and international funding markets and “ample foreign-currency reserves” as factors that will help the economy “weather global capital flows volatility.”

As of end-July 2025, gross international reserves stood at US$105.4 billion, equivalent to 7.2 months’ worth of imports and about 3.4 times the country’s short-term external debt based on residual maturity.

“The Philippines has built ample reserves and policy space to absorb external shocks, allowing us to maintain stability even in times of global uncertainty,” BSP Governor Eli M. Remolona, Jr. said.

Moody’s also highlighted the country’s strong economic growth compared with regional and rating peers. The gross domestic product expanded by 5.4 percent year-on-year in the first half of 2025, aligned with Moody’s full-year forecast of 5.7 percent and within the government’s target range of 5.5 to 6.5 percent.

The growth was supported by stable overseas Filipino remittances, which reached US$16.75 billion in the first half of 2025, up 3.1 percent from the same period last year.

An investment-grade rating indicates low credit risk, which allows the government to borrow at lower costs and channel more resources into socially beneficial programs and initiatives.