World Bank sees worse turnout for Philippines MANILA, Philippines — The World Bank expects a deeper economic contraction for the Philippines this year and a slower recovery by next year as the country fails to control the COVID contagion despite repeated lockdowns. In its October 2020 Economic Update for East Asia and the Pacific, the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has approved the guidelines of a new law extending a 60-day grace period for the repayment of all existing loans to ease the burden of consumers and companies severely affected by the COVID-19 pandemic. BSP Governor Benjamin Diokno said the regulator has approved the implementing rules […]
Read MoreThe peso has been appreciating in recent weeks despite the gloomy economic picture, with the economy still experiencing a downturn. The peso exchange rate as an indicator of value. The value of the peso is an indicator of the health of the economy. The many wiggles of the currency market produce the exchange rate that signals the […]
Read MoreMANILA, Philippines — The Philippine economy is expected to start recovering in the second quarter of next year after the country imposed the longest and strictest lockdowns to contain the spread of COVID-19, according to Fitch Solutions Country Risk & Industry Research. Michael Langham, senior analyst for Asia at Fitch Solutions, said during the Asia […]
Read MoreMANILA, Philippines (UPDATE 1 1:06 p.m., Sept. 29) — Around 2 million Filipinos would slide back to poverty this year because of the pandemic, nearly erasing gains over the past 5 years and making a rebound to pre-pandemic growth a struggle for the Philippines. The poverty rate could rise to 20.5% this year and 22.4% next year from the official 16.7% […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may bring the key interest rate down to 1.75 percent by year-end to support the economy amid the pandemic, according to London-based macroeconomy research firm Capital Economics. In a report, the think tank said the BSP may cut the main policy rate by 25 basis points […]
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