MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may resume easing interest rates by the second half of the year once inflation tapers off, according to Capital Economics. In its weekly brief, the London-based think tank maintained that rate cuts are unlikely in the near term as inflation remains high. This means that the […]
Read MoreMANILA, Philippines — The country’s external debt surged by nearly 18 percent to $98.49 billion in 2020 from $83.62 billion in 2019 as the government borrowed more to finance its pandemic response efforts and various infrastructure projects, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. He attributed the increase to the issuance of […]
Read MoreMANILA, Philippines — The country’s group of exporters is seeking more financial support from the government to aid the export sector’s recovery from the pandemic-induced slowdown. “The stronger economic recovery in the third and fourth quarters this year is premised on the projected rebound in exports that should hasten the return of the Philippines back […]
Read MoreMANILA, Philippines — The country’s risks from debt exposure are minimized even as the share of debt to gross domestic product (GDP) rose to a 14-year high in 2020, according to the Department of Finance (DOF). In an economic bulletin released over the weekend, Finance Undersecretary Gil Beltran said the low interest rate regime helped […]
Read MoreMANILA, Philippines — Micro, small and medium enterprises (MSMEs) may be left with no choice but to permanently shut down business should the government reimpose lockdowns to address the recent surge in COVID-19 cases, the country’s largest tourism network has cautioned. The Tourism Congress of the Philippines (TCP) said reintroducing enhanced community quarantine (ECQ) this […]
Read MoreMANILA, Philippines — Wholesale electricity spot market (WESM) prices inched higher this month as the warmer weather and looser restrictions push up demand while outage of power plants reduced supply. The Independent Electricity Market Operator of the Philippines (IEMOP) recorded an increase in the spot price at the start of March, reaching an average of […]
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