Philippines’ BBB+ rating affirmed

Japan-based Rating and Investment Information, Inc. (R&I) has kept its BBB+ credit rating with a stable outlook for the Philippines, citing the country’s robust post-pandemic growth prospects. In a statement on Friday, the debt watcher cited Philippine potential to bounce back from last year’s 9.6% drop in economic output as investments come in, and fiscal […]

World Bank cuts Philippine growth outlook

The World Bank cut its economic growth forecast for the Philippines to 5.5% this year, citing high coronavirus cases, a slow vaccination program and lackluster government spending. “The Philippines struggles with COVID-19, which affects growth directly by requiring a very tough response which has imposed a big cost on the economy,” Aaditya Mattoo, the World […]