MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) sees no urgency in the issuance of its own digital currency as the country’s digital payment channels remain robust, safe and convenient. “There’s no urgency for this. Our settlement and payment system is working very well. I think we will maximize the benefits from our existing […]
Read MoreMANILA, Philippines — Dollars sent home by expatriate Filipinos continued to rise for 12 straight months, growing by 2.5 percent in January, amid the redeployment of more overseas Filipino workers (OFWs) as host countries reopen their borders from strict COVID lockdown measures, according to the Bangko Sentral ng Pilipinas (BSP). Personal remittances from Filipinos abroad […]
Read MoreMANILA, Philippines — The Duterte administration will not suspend the collection of petroleum taxes despite growing calls to do so amid rallying global oil prices, but would instead expand its cash aid program to include not just the transport and farm sectors but also poor families. Finance Secretary Carlos Dominguez III admitted that the size […]
Read MoreMANILA, Philippines — The suspension of the fuel excise tax would cut into the government’s revenue collection and force more borrowings, causing the national debt to spiral to over 61 percent of the economy, the Department of Finance said. In its analysis, the DOF said the budget deficit would rise to 8.2 percent of gross […]
Read MoreINTERNATIONAL debt watchdog S&P Global Ratings has lowered its economic growth forecast for the Philippines this year to account for market developments surrounding the Russia-Ukraine conflict. S&P cut its 7-percent growth outlook for the Philippines’ gross domestic product (GDP) by 0.5 percent, citing “a high degree of uncertainty about the extent, outcome and consequences of […]
Read MoreMANILA, Philippines — A cap on interest rates and other fees slapped by lending and financing companies, as well as online lending platforms for small value loans, would help spur credit growth in the country, according to Credit Information Corp. CIC president and CEO Ben Joshua Baltazar said the country’s public credit registry and repository […]
Read More
Thailand
