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Philippines: BSP to deface unfit coins

TO maintain the integrity of the Philippine currency, the Bangko Sentral ng Pilipinas (BSP) retired 519.93 metric tons of unfit, demonetized, mutilated and counterfeit (UDMC) coins through defacement. In a statement on Wednesday, BSP said that the coin defacement was undertaken beginning October 2021 until September 2022. Coin defacement, done via machine, involves a process […]

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Philippines: Factory output posts modest expansion in October as inflation bites

MANILA, Philippines — Local factory output eked out moderate expansion in October despite growing demand as inflationary pressures continued to burden firms.  A survey of around 400 manufacturers in the country found that the Philippines’ Purchasing Managers’ Index (PMI), a gauge of manufacturing output, softened to 52.6 in October from 52.9 in September, S&P Global […]

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Philippines ready to face challenges – BSP

MANILA, Philippines — The affirmation of the Philippines’ investment grade rating by Fitch Ratings reflects a credible economic policy framework, strong economic growth and sound external finances, according to economic managers. Bangko Sentral ng Pilipinas Governor Felipe Medalla said the BSP “consistently signals to the market its unwavering commitment to use the tools at its […]

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SWS: 2.9 million Filipino families still hungry in Q3

MANILA, Philippines — A new poll showed that 11.3% of Filipino families or an estimated 2.9 million experienced “involuntary hunger” moving into the third quarter of 2022. The survey, the first of its kind conducted under the administration of President Ferdinand Marcos Jr., showed that people who reported that their family experienced hunger and did […]

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