Economy

The following statement was released by Fitch Ratings on Wednesday, as it upgraded the Philippines to investment grade:

Traders urged to strengthen forex sources other than remittances The Bangko Sentral ng Pilipinas wants an export sector development agenda drawn up to ensure that the country’s foreign exchange reserves remain at a healthy level in the face of worsening global economic conditions.

FOR the first time, the Philippines has attained investment-grade status, courtesy of the UK-based Fitch Ratings, in the first of an expected series of upgrades seen to result in even more foreign inflows to help accelerate the economy down the line.

The Philippines secured its first investment grade credit rating on Wednesday, courtesy of debt watcher Fitch Ratings, along with a stable outlook that is expected to lead to more foreign investments, increased access to credit and reduced borrowing costs.

MANILA (2ND UPDATE) — The Philippines got its first long-coveted investment-grade rating on Wednesday, as Fitch Ratings gave the country a ‘BBB-‘ with a stable outlook. An investment grade status opens up the country to more investments that can lead to additional jobs and funds for infrastructure, and help create sustainable economic growth.

MANILA, Philippines – What it means for Phl: An investment grade rating means the Philippines has a strong ability to meet its financial commitments fully and on time. While credit ratings do not indicate investment merit, credit risk is one of the factors taken into consideration by businessmen. An investment grade sends a message that…

When she left the presidency, nearly nine out of 10 Filipinos had access to health insurance, former President Gloria Macapagal-Arroyo said in a paper she wrote from October to December 2011.

MANILA, Philippines (Xinhua) – Despite its better than expected 6. 6 percent gross domestic product (GDP) growth last year, the Philippines will lag behind other members of the Association of Southeast Asian Nations (ASEAN) in the long-term if it does not adopt the needed improvements, according to the Organization of Economic Cooperation and Development (OECD).

THE Bangko Sentral ng Pilipinas (BSP) expects economic growth to accelerate this year, bolstered by added contributions from the external-trade sector, Governor Amando M. Tetangco Jr. said.

MANILA – As the first quarter comes to a close, the National Economic and Development Authority (NEDA) on Monday said growth for the period likely settled at 6-7 percent on election-related spending and the recovery in exports.

THE INTERNATIONAL Monetary Fund (IMF) has cited several reforms implemented by the Aquino administration, saying these could boost investments which are key to sustaining the growth momentum of the economy.

THE PHILIPPINES is poised to be the standout in Southeast Asia yet again, leading the pack in terms of economic growth and investor confidence, Standard Chartered Bank has projected.

MARKET PLAYERS yesterday called on the government to ensure that the country’s growth momentum is sustained by focusing not just on achieving a faster pace but also on “growing better.”

Malaya Business News Online – Philippine Business News | Online News PhilippinesMalaya Business News Online – Philippine Business News | Online News PhilippinesCredit rating agency Standard and Poor’s (S&P) yesterday announced it has revised higher growth prospects for the Philippines and other countries in the Asia-Pacific region.

LONDON — As western economies hit another pothole in their stuttering post-crisis recoveries, pressure to step up economic policy intervention to tackle entrenched unemployment may be building.

THE AQUINO administration has posted improvements with regard to reforms sought by businessmen, the Joint Foreign Chambers (JFC) yesterday said.

MANILA – The Philippine economy in 2012 outpaced the growth of neighbors in Southeast Asia, the National Economic and Development Authority (NEDA) said on Monday.

The government has committed to complete its institutional reforms through the passage and implementation of critical reform measures this year to support the country’s goal of attaining growth in gross domestic product (GDP) of up to 7 percent in 2013 and 7.5 percent in 2014.

DAVOS — The World Economic Forum’s annual meeting in Davos has lost some of its pre-crisis panache. After all, before the meltdown in 2008, the captains of finance and industry could trumpet the virtues of globalization, technology, and financial liberalization, which supposedly heralded a new era of relentless growth. The benefits would be shared by…

What’s wrong with PH strategy? Those who are seeking genuine answers would do well to read a couple of books written by the late woman economist from MIT (Massachusetts Institute of Technology), Alice H. Amsden.

Philippine economic growth in the fourth quarter of 2012 may have surpassed expectations but a local think tank said the numbers exposed the weakness of the agriculture sector which requires a permanent solution.

THE PHILIPPINE economy is expected to grow at a slower pace this year — but still within the government’s target — given risks from a weak global environment and “bureaucratic bottlenecks,” a New York-based consultancy yesterday said.

– by Mike Manuel, Sun Life Chief Investment Officer for Asia http://twitpic.com/c12sob

Survey shows confidence levels down in 33 countries Filipinos were the most optimistic consumers in Southeast Asia and the second most optimistic in the world, defying a broad global decline in confidence during the fourth quarter of 2012, according to an international polling firm.

DAVAO CITY, Philippines – The Philippines is now the “rising tiger” of Asia as the government’s economic initiatives and political reforms have begun to bear fruit, the World Bank said yesterday.

MANILA, Philippines — Among the Philippine leaders from 1986 to present, President Benigno Aquino III posted the fastest growth in his first year in office while President Gloria Macapagal-Arroyo posted the best average economic performance among those who completed their respective terms, the National Statistical Coordination Board (NSCB).

Benefiting from robust consumer spending and improving investment climate, the Philippine economy was expected to have maintained a robust 6.5-percent growth in the fourth quarter of 2012 and remained one of the fastest-growing economies in the region.

THE UNITED STATES is pleased with the pace of the Philippines’ growth but would like to see economic expansion sustained in the long term by further liberalization, a visiting US State Department official yesterday said.

THE COUNTRY’S growth potentials have improved given an expansion of productive capacity and better inflation expectations, a Bangko Sentral ng Pilipinas (BSP) official said.

WASHINGTON — Developing countries, led by China, will remain the main engines of global economic growth in 2013 as Europe and the United States plod along, the World Bank said in a report released Tuesday.