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Philippines: Debt-to-GDP ratio rises to 44% in Q1

MANILA, Philippines — The proportion of the national government’s debt to economic output rose to 44 percent in the first quarter of the year due to the increase in domestic borrowings, the Department of Finance (DOF) said yesterday. In an economic bulletin, Finance Undersecretary and chief economist Gil Beltran said the debt-to-GDP ratio expanded to […]

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Singapore clears entry of Philippines agri products

MANILA, Philippines — Singapore is ready to accept agricultural exports coming from the Philippines after successful sanitary inspections of several poultry and hog farms. Agriculture Secretary Emmanuel Piñol said Singapore is now open to receiving the initial shipment of table eggs, chicken, pork and vegetables from the Philippines after the recent on-site inspection of technical […]

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Philippines: BSP cuts bank reserve ratio to 16%

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has brought down the level of deposits banks are required to keep with the central bank by 200 basis points (two percentage points) over a three-month period, releasing about P190 billion in additional funds to boost the slowing economy. BSP Governor Benjamin Diokno said the Monetary […]

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Philippines: Bank reserves cut next in line, economists say

MANILA, Philippines — Economists expect the Bangko Sentral ng Pilipinas (BSP) to follow suit with a reduction in banks’ reserve requirement ratio (RRR) this week to free up more funds to boost the country’s slowing economy. ING Bank Manila senior economist Nicholas Mapa said the BSP’s Monetary Board is likely to resume the reduction of […]

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