MANILA, Philippines — President Duterte has assured farmers that the importation of rice during harvest season would be “limited” and that his administration would buy their produce even at a loss to the government. Duterte said he has ordered the agriculture department to come up with projections to determine how much rice would be imported. […]
Read MoreDespite deployment ban MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) are expected to remain stable despite the possibility of a total deployment ban to Kuwait, according to the Bangko Sentral ng Pilipinas (BSP). “Notwithstanding the said deployment ban to Kuwait, cash remittances of OFWs coursed through the banking system may remain stable as […]
Read MoreMANILA, Philippines — The World Bank has retained its growth forecast for the Philippines of 5.8 percent in 2019, accelerating to 6.1 percent this year and sustaining momentum at 6.2 percent in 2021 throughout 2022. In its January 2020 Global Economic Prospects Report, the multilateral lender kept the downgraded growth forecasts for the country made […]
Read MoreMANILA, Philippines — Moody’s Investors Service said the timely passage of the 2020 national budget would help sustain the rapid economic growth of the Philippines against an uncertain global backdrop. Christian de Guzman, senior vice president at Moody’s, said the signing into law of the P4.1-trillion budget last Jan. 6 is credit positive for the […]
Read MoreMANILA, Philippines — The yields of term deposits fell across the board anew as liquidity has started to return to the financial system after the Christmas and New Year holidays, according to the Bangko Sentral ng Pilipinas (BSP). The seven-day term deposits fetched 4.1641 percent at the term deposit auction facility (TDF) yesterday, 7.04 basis […]
Read MoreMANILA, Philippines — Credit growth picked up pace in November last year, rising by 10.1 percent as the Bangko Sentral ng Pilipinas slashed key interest rates and lowered the reserve requirement of banks.’ According to BSP data, banks disbursed P8.95 trillion worth of loans as of end-November last year, P821 billion more than the P8.13 […]
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