MANILA, Philippines — Banks continued to snub the peso rediscounting loan facility of the Bangko Sentral ng Pilpinas (BSP) for the third straight month in July as measures aimed at softening the blow of the pandemic on the economy released much needed liquidity into the financial system. Rediscounting is a BSP credit facility extended to […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) is pushing for investments in transportation systems that use new technologies to adopt to social distancing and increased take-up of non-motorized transport amid the pandemic. In its new report titled “Guidance Note on COVID-19 and Transport in Asia and the Pacific,” the multilateral bank said future investments […]
Read MoreMANILA, Philippines — The Philippines would be forced to spend more to fight the coronavirus pandemic, even if it does not want to, if the outbreak gets prolonged and an expected rebound for the economy next year does not materialize, a debt watcher said Tuesday. “The government’s record of macroeconomic management lends credibility to the […]
Read MoreMANILA, Philippines — Despite fresh data showing the economy sank into recession last quarter, there is no pressure on the Bangko Sentral ng Pilpinas (BSP) to further deploy monetary stimulus to assist on recovery from the pandemic. Ahead of the central bank’s policy meeting on Aug. 20, BSP Governor Benjamin Diokno signaled monetary authorities are […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers (OFWs) may drop by $5 billion this year as emerging markets, including the Philippines, face numerous challenges brought about by the coronavirus pandemic, according to Metropolitan Bank & Trust Co. (Metrobank). Pauline Revillas, research analyst at Metrobank, said the weak global demand, lower foreign direct investments (FDIs) […]
Read MoreMANILA, Philippines — The government spent P547.35 billion in the first half to settle matured debt from both domestic and foreign lenders, according to the Bureau of the Treasury (BTr). The latest figure was more than 42 percent higher than the P385.25 billion recorded in the same period last year. For June alone, the government’s […]
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