MANILA, Philippines — The International Monetary Fund (IMF) has lowered its economic growth forecast for the Philippines for this year, amid the coronavirus disease 2019 or COVID-19 pandemic. Based on the latest World Economic Outlook (WEO), the multilateral lending institution lowered its gross domestic product (GDP) growth forecast for the Philippines to 0.6 percent from […]
Read MoreMANILA, Philippines — The government might be coming up short of actual cash to bankroll a massive response to the coronavirus outbreak but it will never ask its creditors for a moratorium on debt payments. In a statement released Tuesday, Finance Secretary Carlos Dominguez III flatly rejected what he called “narrow-sighted” suggestions to use interest […]
Read MoreMANILA, Philippines — The Philippines is spending P8 billion to purchase an additional 300,000 metric tons of rice via the government-to-government scheme to boost the inventory of the country’s main staple. In a virtual briefing Monday, Department of Agriculture Secretary William Dar said the idea proposed by the DA and the National Food Authority has […]
Read MoreMANILA, Philippines — Economists are expecting the Bangko Sentral ng Pilipinas (BSP) to hold an emergency meeting to cut interest rates by 50 basis points to cushion the impact of the coronavirus disease 2019 or COVID-19 on the economy. Euben Paracuelles, chief economist for ASEAN at Japanese investment house Nomura, said the central bank’s Monetary […]
Read MoreMANILA, Philippines — Donn Christian Testor, a 30-year-old nurse in United Arab Emirates, went for a vacation in his hometown in Cavite last month. He was supposed to fly back to the Middle East last April 5 until the government stopped him from doing so. Testor is one of thousands of Filipino healthcare workers stuck […]
Read MoreMANILA, Philippines — The proportion of jobless Filipinos likely rose to a level not seen since the onset of global financial crisis as disruptions brought by the coronavirus disease-2019 (COVID-19) and the lockdowns implemented to control its spread put people out of work. In a report sent to the media Monday, Japan-based investment bank Nomura […]
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