MANILA, Philippines — Foreign borrowings approved by the Bangko Sentral ng Pilipinas (BSP) continued to climb, rising by 19 percent to $2.84 billion in the first quarter from $2.38 billion in the same period last year due to COVID-related spending. Almost a third or $900 million of the total foreign borrowings went to the government’s […]
Read MoreThe Philippine manufacturing contracted in April as the resurgence of coronavirus disease 2019 (Covid-19) cases prompted factory closures and renewed fall in output, the latest IHS Markit survey revealed. Results released on Monday showed that the purchasing managers index (PMI) sharply fell to 49.0 from 52.2 in March, signalling a marginal contraction in operating conditions […]
Read MorePhilippine headline inflation likely picked up in April after hitting a two-month low in March, analysts polled by The Manila Times said. Projections for the month ranged from 4.5 to 4.8 percent with a 4.6-percent average, slightly higher than the 4.5 percent recorded in March. Inflation in April last year settled at 2.2 percent. The […]
Read MoreMANILA, Philippines — Central bank approvals for state foreign borrowings continued their climb in the first quarter, reflecting the government’s scouring of funds to finance an ongoing pandemic fight. From January to March, the Bangko Sentral ng Pilipinas (BSP) greenlighted $2.84 billion in offshore debts planned by the government, up 19.4% year-on-year. Compared with the previous […]
Read MoreMANILA, Philippines — Local manufacturers snapped a delicate recovery in output in April after a spike in coronavirus infections triggered a return to strict lockdowns in key urban areas where factories were shuttered anew. The Philippines’ purchasing managers’ index, a measure of factory output, sagged to 49 in last month based on results of a monthly survey of around […]
Read MoreMANILA, Philippines — The government continued to accumulate more debt in March to a new record-high, as the country’s needs amid the lingering coronavirus pandemic grow. What’s new The state’s total outstanding debt climbed 3.5% month-on-month to P10.77 trillion as of the first quarter, the Bureau of the Treasury reported Monday. The uptick means P368 […]
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