MANILA, Philippines — Without social aid, the economic slump from the coronavirus global pandemic would likely wipe out three decades of gains in fighting poverty, with nearly half of new poor people coming from East Asia and the Pacific, a new study showed. The region, which includes the Philippines, could host “40% of the new […]
Read MoreMANILA, Philippines — The World Bank has added to the Philippines’ fund pool to counter the impact of the coronavirus disease-2019 (COVID-19) on the economy after the agency approved a $500-million loan to the government. In a statement, the Washington-based lender said the amount is a “risk management development policy loan,” which is primarily intended […]
Read MoreMANILA, Philippines — Business confidence turned sour in the first three months of the year as fears over the economic damage from the coronavirus disease 2019 (COVID-19) outbreak deepen just when companies were recovering from the Taal volcano eruption last January, a central bank survey showed on Wednesday. Results of a nationwide poll of 1,533 companies […]
Read MoreMANILA, Philippines — Electronics exports are not likely to hit the projected five percent growth for 2020 amid the coronavirus crisis, the Semiconductors and Electronics Industries in the Philippines Foundation Inc. (SEIPI) said. This despite posting nearly 10 percent growth in the first two months of the year to $6.16 billion. For February alone, electronic […]
Read MoreMANILA, Philippines — The country posted its smallest trade deficit in more than two years in February as imports declined, and exports continued to grow although at a much smaller pace, the Philippine Statistics Authority (PSA) reported yesterday. The trade gap narrowed to $1.656 billion in February, the smallest since July 2017, data showed. It […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has temporarily lowered the minimum liquidity ratio (MLR) for stand-alone mid-sized and small banks, freeing P10 billion into the financial system and boosting economic activity amid the coronavirus disease 2019 or COVID-19 pandemic. BSP Governor Benjamin Diokno said the Monetary Board approved the lowering of the […]
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