ASEAN – Despite having the third biggest increase in the external debt ratio among five Southeast Asian countries, the Philippines still maintains the lowest ratio of foreign debt to domestic production. According to a research from the Department of Finance’s senior economist Gil Beltran, the Philippines has the lowest foreign debt as a percentage of GDP (27%) among ASEAN nations …

ASEAN – According to debt monitor Moody’s Investors Service, the Asia-Pacific region, including the Philippines, would undoubtedly feel the effect of rising tensions and Russia’s threat of invading Ukraine via global price shocks and trade disruption (Feb. 23). Moody’s managing director Michael Taylor said in a statement that the Asia-Pacific economies they monitor had “little direct exposure to Russian or …

Philippines – New unfamiliar money stores from the public government and profit from the Bangko Sentral ng Pilipinas’ ventures abroad brought over the country a dollar surplus in October. In view of this, The nation’s equilibrium of installments position posted a $1.14 billion excess in October, turning around a shortfall recorded in September, the Bangko Sentral ng Pilipinas has detailed …

Surprisingly, Bangko Sentral ng Pilipinas officially announced that there will be an extra P280 billion that can still be lent from monetary authorities by the government to raise its combat against the pandemic The BSP Governor Benjamin Diokno shared in a virtual press briefing that Republic Act 11494 or the Bayanihan to Recover as One Act (Bayanihan 2) granted the …

This year, the Bangko Sentral ng Pilipinas signaled a pause in its vigorous easing period, which saw it drive P2 trillion in liquidity to the financial sector to promote economic activity affected by the health crisis. Since BSP Governor Benjamin Diokno claims that the availability of money is adequate to get the economy back to its pre-pandemic scale by the …

The central bank’s monetary board’s decision to increase its inflation forecasts further moved real interest rates into negative territory, said DBS Bank Ltd. of Singapore. After an ambitious easing that saw rates drop by 200 basis points to cushion the effects of the COVID-19 pandemic, the Bangko Sentral ng Pilipinas agreed to hold interest rates steady at an all-time low …

Few days left till 2021 and the new year’s sustained higher oil and food prices could cause the Bangko Sentral ng Pilipinas (BSP) to remove monetary assistance from the ailing economy prematurely and jack up rates, raising the urgency of a compelling fiscal stimulus. In view of this, the supply fluctuations have kept food prices high and may be vulnerable …

As the global virus outbreak hit every sector of the economy, remittances of the overseas Filipino workers (OFWs) are being hit hard by Covid-19 as thousands of Filipinos have been returning from countries around the world. According to the Bangko Sentral ng Pilipinas (BSP), they expect the remittances to shrink for the first time in almost two decades. The central …

To prevent coronavirus disease from spreading following exposure of the country’s top economic officials to COVID-19 patients, the Department of Finance (DOF), Bangko Sentral ng Pilipinas (BSP), the Government Service Insurance System (GSIS) and the Asian Development Bank (ADB) temporarily suspended operations on Thursday to disinfect their facilities. Finance Secretary Carlos G. Domínguez III said the DOF building in Manila …

The Bangko Sentral ng Pilipinas (BSP) will provide regulatory relief to banks hit by the 2019 coronavirus disease (COVID-19) and the outbreaks of African swine fever (ASF). The central bank stated in a statement Tuesday that it extended the coverage of Circular 1071, which provides the framework for the granting of regulatory aid to banks and quasi-banks. The circular was …