Manila, March 3 -- Senate President Francis Escudero on Monday downplayed concerns over the USD283.7 million foreign portfolio, also known as "hot money" due to the speed it comes in and out of an economy, that left the country in January, emphasizing that such capital movements are normal occurrence in financial markets.

"Hot money, by definition, are funds that are controlled by investors who actively seek short-term returns," Escudero said in a Viber message to reporters.

"When hot money 'leaves' a country, it simply means that there is a promise of a higher return somewhere else and is not, in any way, a reflection on a country's short-, medium-, or long-term stability or growth prospects," he added.

The Bangko Sentral ng Pilipinas...