MANILA, Philippines — Restarting a “new economy” that is safer, better, and more technology-savvy is more important than achieving the much-coveted A-scale credit rating and upper middle income status, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said monetary and fiscal authorities are putting more emphasis on softening the blow and preventing […]
Read MoreMANILA, Philippines — Fitch Solutions Country Risk & Industry Research now expects the Philippine gross domestic product (GDP) to contract by two percent instead of growing by 0.5 percent this year as the shock from the coronavirus pandemic would drag the country into recession. The research unit of the Fitch Group said the coronavirus disease […]
Read MoreMANILA, Philippines — As the Philippines slowly re-opens its economy from stringent lockdowns, the government is banking on resilient Filipino consumers to propel a quick recovery from the outbreak, but unpaid bills that piled up are likely to get in the way. Household bills, from utilities to loan payments, are haunting back consumers, some of […]
Read MoreMANILA, Philippines — The Philippines is facing more downgrades from international credit rating agencies in the coming months as the economic fallout from the coronavirus disease 2019 or COVID-19 pandemic is likely to be felt in the coming years. Euben Paracuelles, economist at Nomura, said S&P Global Ratings is likely to revise its credit outlook […]
Read MoreMANILA: The Philippines is looking to import another 300,000 tonnes of rice to boost state stockpiles while battling the coronavirus pandemic, ahead of a lean third-quarter harvest, a senior official said on Monday. A government-to-government deal of this volume would raise Philippine rice imports so far this year to a record 3 million tonnes. Agriculture […]
Read MoreMANILA, Philippines — Most countries in Emerging Asia, including the Philippines, should brace for double-digit declines in economic growth in the second quarter as recovery will likely be slow even after lockdown restrictions are lifted, according to London-based Capital Economics. In a new report, the macroeconomy research firm said first quarter gross domestic product (GDP) […]
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