fitch rating philippines

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In addition, the Philippines retains room in our view for monetary and fiscal easing to offset the potential short-term impact on growth,” it said.According to Fitch, recent reforms including the New Central Bank Act and the Philippine Identification Act to strengthen institutional effectiveness, human capital and the business environment should lead to a further improvement in the Philippines’ structural metrics over time.Fitch also expects the country’s fiscal profile to improve over the coming year, supported by continued progress on tax reforms including the passage of the passage of the Package 2+ of the comprehensive tax reform program that would lead to higher government revenues.Furthermore, Fitch said the BSP’s Monetary Board still has more room for further easing after slashing interest rates by 100 basis points since May last year after delivering a rate cut last Feb. 6. In a comment released late last week, ING Bank Manila senior economist Nicholas Antonio Mapa emphasized that credit rating agencies such as Moody’s Investors Service, Fitch Ratings and S&P Global Ratings have upgraded the Philippines to investment grade rating […]

Outlooks on the country’s creditworthiness differ after the economy officially entered recession in the second quarter. A few seconds ago MANILA, Philippines — The Philippines needs to spend more to soften the blow of the COVID-19 pandemic as the health crisis drags on, stalling economic recovery, according to Fitch Ratings. According to MarineTraffic, the Chinese research ship departed Guangzhou, China on July 22 and arrived in the area of Recto Bank on August 6. 7 days ago Fitch upgrades Philippines rating outlook Fitch said the Philippines entered the crisis with fiscal buffers given its low general government debt ratio of 34.1 percent of GDP in 2019 compared to ‘BBB’ peer median of 42.2 percent. “We think there may still be room, although very limited, for further easing in light of the uncertainties over the growth outlook due to the coronavirus outbreak, and the likelihood inflation will stay within the central bank’s target range of two to four percent,” the debt watcher added.Fitch Ratings and Korea-based NICE Investors Service assign the Philippines a rating of BBB, while Moody’s Investors Service assigns a rating of Baa2, one notch higher than the minimum investment grade.On the other hand, S&P Global Ratings upgraded the country’s credit rating to BBB+ or a notch below the much coveted A rating in April last year. Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. Fitch currently rates the Philippines BBB, an investment grade, with a stable outlook, indicating that at the time of the latest assessment last May, the rating is … 7 days ago

or sign in with Recommended Key to our revision is an expectation for household consumption to prove vulnerable through; Read More Infrastructure Project Pipeline To Drive Phillipine LCV Sales . By 6 days ago Philstar Global Corp. All Rights Reserved We at Fitch Solutions now forecast the Philippines economy to contract -2.0% in 2020, down from a previous forecast of 0.5% growth, reflecting the unparalleled shock to the economy the Covid-19 pandemic has proved. By

By United States Secretary of State Mike Pompeo has discussed with Foreign Affairs Secretary Teodoro Locsin Jr. his country’s latest policy on maritime claims in the South China Sea, which supports sovereign rights of coastal states as well as rules-based order in contested waters. August 13, 2020 - 12:00am 1 day ago

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