MANILA, Philippines — Further amendments to the mandated loan threshold for the agriculture and agrarian reform activities will push the country into the next stage of development post-pandemic, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said monetary authorities are pushing for the amendments to Republic Act 10000 or the Agri-Agra Reform […]
Read MoreMANILA, Philippines — The Philippines risks losing gains made in recovering jobs lost during the pandemic if it fails to accelerate the vaccination program and resume economic activities on all fronts, economists said yesterday. University of the Philippines economics professor Ramon Clarete said the 4.2 percent decline in first quarter gross domestic product (GDP) may […]
Read MoreMANILA, Philippines — Sending money to the Philippines remains among the cheapest globally, benefiting an economy reliant on remittances sent by overseas Filipino workers (OFWs), the World Bank said. In its latest Migration and Development Brief, the World Bank said remittance charges to the Philippines cost less than five percent, or $10, for every $200 […]
Read MoreMANILA, Philippines — The Philippines is projected to import more rice next year to meet the rising demand for the commodity, according to the United States Department of Agriculture (USDA). In its latest monthly global grain report, the USDA said the Philippines is expected to import a total of 2.1 million metric tons (MT) of […]
Read MoreMANILA, Philippines — Fitch Solutions Country Risk & Industry Research expects a slower economic recovery for the Philippines in the next two years as the country continues to struggle to control the resurgence of COVID-19 infections. In its latest commentary titled “Philippines’ 2021 recovery hampered by the pandemic,” Fitch Solutions said it has slashed the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) yesterday kept the benchmark interest rate at an all-time low of two percent to quicken economic recovery as the recession induced by the COVID-19 pandemic extended for five straight quarters. In a virtual press conference, BSP Governor Benjamin Diokno said the policy-making Monetary Board decided to […]
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