Philippines eyes 2025 with external account challenges. The Bangko Sentral ng Pilipinas forecasts a current account deficit hitting $15.5 billion this year—a significant figure that reflects ongoing trade imbalances and capital flows. What does this mean for markets? When a nation's external gap widens, currency pressures often follow, affecting regional asset valuations and investor sentiment across emerging markets. This matters beyond traditional finance too—crypto adoption in Southeast Asia tends to accelerate during periods of currency volatility, as locals seek alternative stores of value. The $15.5 billion projection suggests sustained pressure on the Philippine peso, which could reshape how both institutional and retail players position themselves in the region. Keep an eye on how these macro headwinds influence capital flows into digital assets across APAC.