MANILA, Philippines — The National Food Authority has met with its rice milling contractors to guarantee unimpeded flow of government rice supply across the country. “We cannot afford to let anything hamper our palay milling activities to continuously serve the rice requirements of the National Capital Region and of the other areas in the country […]
Read MoreMANILA, Philippines — The World Bank and the International Monetary Fund (IMF) have been urged to look into challenges faced by middle-income countries in debt repayment and come up with solutions to alleviate debt stress as they cope with economic fallout from the new coronavirus pandemic. This was contained in the communiqué of the Joint […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has slashed its rediscount rate by 50 basis points to allow more banks to tap the facility to meet their temporary liquidity needs amid the coronavirus disease 2019 (COVID-19) pandemic. The applicable rediscount rate for loans under the peso rediscount facility was lowered to 3.25 percent […]
Read MoreMANILA, Philippines — Economists expect remittances from overseas Filipino workers (OFWs) contracting this year due to displacements resulting from travel restrictions brought about by the spread of the coronavirus disease 2019 or COVID-19. Sanjay Mathur, chief economist for Southeast Asia and India at ANZ Research, said remittances are likely to take a hit this year […]
Read MoreMANILA, Philippines — Socioeconomic Planning Secretary Ernesto Pernia has resigned and Finance Undersecretary Karl Kendrick Chua, who crafted the Duterte government’s tax reform program is replacing him, officials said in separate announcements on Friday. The sudden change in leadership at the National Economic and Development Authority (NEDA), one the government’s top economic agencies, is coming at […]
Read MoreMANILA, Philippines — The country’s metallic production continued its upward trend, driven by the nickel sector as the Philippines benefitted from the ore export ban in Indonesia. Latest data from the Mines and Geosciences Bureau (MGB) showed that aggregate value of metal production increased by seven percent to P130.73 billion last year. This marks a […]
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