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Pandemic-related risks to delay Philippine recovery

MANILA, Philippines — Pandemic-related risks are expected to delay the Philippines’ economic recovery and may raise the prospects of long-term economic scarring, according to Moody’s Investors Service. “Pandemic risks have weighed on the Philippines’ economic recovery compared to its more export-oriented peers in Asia-Pacific, delaying fiscal consolidation and raising the prospects of long-term economic scarring. […]

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Philippines: Debt-to-GDP ratio at 60%

A bank analyst said the country’s fiscal authorities may need to reassess their present debt-to-gross domestic product (GDP) reduction strategy as credit downgrades loom. In a Thursday commentary, ING Bank Manila senior economist Nicholas Antonio Mapa noted that Fitch Ratings highlighted the scarring effects of the prolonged downturn in economic activity as well as how weak growth could affect […]

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Philippines: Government urged to take action vs plastic woes

MANILA, Philippines — Three environmental groups are urging the government to take action against plastic pollution caused by waste management schemes such as incineration by limiting the production of plastic. In a statement, Philippine environmental health groups EcoWaste Coalition, Interfacing Development Interventions for Sustainability (IDIS) and Mother Earth Foundation (MEF) emphasized the urgency of limiting […]

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Philippines approves GMO ‘golden rice’ for commercial production

MANILA, Philippines — The Philippines became the world’s first country Friday to approve the commercial production of genetically modified “golden rice” that experts hope will combat childhood blindness and save lives in the developing world. A biosafety permit issued by government regulators paves the way for the rice — enriched with the vitamin A-precursor beta-carotene to make […]

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