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Philippines current account buffer deteriorates further in H1

The Philippines continued to invest more than what its national saving can finance after posting a wider current account deficit in the first half of the year, adding pressure on the nation’s weakening currency......»»

Category: newsSource: philstar philstarSep 14th, 2018

Cooling down Philippine inflation comes at a cost — report

Soaring prices in the Philippines continue to crush Filipino families’ budgets, and bringing down rising inflation may come at a cost to the national government’s balance sheet and the economy’s other main line of defense, the current account buffer......»»

Category: newsSource:  philstarRelated NewsOct 19th, 2018

Philippines more vulnerable to external shocks

The Philippines’ widening current account deficit as a result of higher investments will leave the country more vulnerable to external shocks and developments, according to ANZ Research......»»

Category: financeSource:  philstarRelated NewsOct 29th, 2018

Philippines can overcome ‘temporary adversities’ — DOF

The Department of Finance (DOF) yesterday expressed confidence that the Philippine economy can overcome “temporary adversities,” such as high inflation and a widening current account deficit......»»

Category: financeSource:  philstarRelated NewsSep 18th, 2018

Forex buffer enough to cover deficits — BSP

The ballooning trade and current account deficits arising from strong imports are still manageable as the country’s foreign exchange buffer remain sufficient, the Bangko Sentral ng Pilipinas (BSP) said......»»

Category: financeSource:  philstarRelated NewsSep 15th, 2018

Current account gap seen breaching target

The Philippines could post a wider current account deficit this year—topping the Bangko Sentral ng Pilipinas’ (BSP) target—and in 2019, an ING Bank Manila economist said. “[S]trong domestic demand continues to worsen the trade imbalance and would likely result to a wider current account deficit,” Joey Cuyegkeng noted in a report released on Tuesday. He said [...] The post Current account gap seen breaching target appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsSep 5th, 2018

PH a ‘clear-cut loser’ if oil prices keep rising

The Philippines will be among the “clear-cut losers” if global oil prices continue to increase this year, Japan’s Nomura said, with the impact to be felt in the country’s trade and current account balances as well as inflation. In a report titled “Higher oil prices drive EM divergence,” Nomura said it assessed the potential impact [...] The post PH a ‘clear-cut loser’ if oil prices keep rising appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 1st, 2018

Nomura sees oil prices pressuring trade, current account deficits

By Melissa Luz T. Lopez Senior Reporter A SUSTAINED pickup in world crude prices will likely trigger a wider current account deficit for the Philippines and put additional pressure on domestic prices, Nomura Global Research said. Analysts from the Japanese bank said rising oil prices would have a substantial impact on the Philippine economy, and […] The post Nomura sees oil prices pressuring trade, current account deficits appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 1st, 2018

$2.5-B current account deficit largest in 18 years

MANILA, Philippines — The shortfall in the country’s current account (CA) position more than doubled last year to hit its highest level since 1999, primarily.....»»

Category: financeSource:  philstarRelated NewsMar 17th, 2018

Philippine current account deficit swells to $2.52-B in 2017

MANILA, Philippines — The Philippines posted a current account deficit of $2.52 billion last year on the back of wider trade gap that offset receipts from th.....»»

Category: financeSource:  philstarRelated NewsMar 16th, 2018

Risk remains despite limited current account gap growth

By Melissa Luz T. Lopez Senior Reporter THE PHILIPPINES is unlikely to see a “significant widening” of its current account deficit, even as a bigger gap exposes the country more to “sudden capital outflows,” S&P Global Ratings said in a regional note on Thursday. The global debt watcher expects Philippine gross domestic product (GDP) to […] The post Risk remains despite limited current account gap growth appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsFeb 22nd, 2018

Philippine CA shortfall below international norm — BSP

MANILA, Philippines — The projected shortfall in the country’s current account (CA) position, arising from strong imports to support the growing economy, is.....»»

Category: financeSource:  philstarRelated NewsFeb 19th, 2018

A faster pace of US rate hikes could pressure Philippines on outflows

in some ways, the Philippines - which reported 6.7 percent economic growth for 2017 - may seem more vulnerable to outflows than five years ago. It hasn’t been accumulating reserves since 2012 and President Duterte’s ambition to upgrade the country’s outdated infrastructure has depleted its other main line of defense, the current account surplus......»»

Category: newsSource:  interaksyonRelated NewsFeb 7th, 2018

Current account deficit seen worsening over 2 years

MANILA, Philippines — DBS Bank Ltd......»»

Category: financeSource:  philstarRelated NewsDec 26th, 2017

Japan’s R& I affirms PH investment grade score

Tokyo-based Ratings and Investment Information Inc. (R&I Ratings) on Tuesday affirmed its “BBB” investment grade rating for the Philippines, forecasting solid economic growth given the Duterte government’s aggressive infrastructure plans. An anticipated widening of the fiscal deficit and another current account deficit are unlikely to become major hitches and the financial system remains stable, it [...] The post Japan’s R&I affirms PH investment grade score appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsDec 20th, 2017

Volatile coal price seen as risk for PH power sector

The Philippines' current account deficit could increase by $1.75 billion each year by 2021 because of the doubling in the price of world-traded thermal coal since the start of last year, the Institute for Energy Economics and Financial Analysis (IEEFA) said......»»

Category: newsSource:  interaksyonRelated NewsNov 15th, 2017

Marawi war victims unite, threaten to launch ‘holy war’

&'160; MARAWI CITY – A shadowy group calling itself the “Meranaw Victims Movement” has threatened to launch its own jihad or holy war if a set of demands, among them government compensation for the destruction of Marawi and the victims of war between security forces and local IS militants in the besieged city in southern Philippines. Speaking in Arabic, the group &'' comprising about 3 dozen masked gunmen &'' released a 14-minute video and statement on social media and stated the following demands: First, we would like to ask our kinsfolk from among the so-called ISIS/Maute Group to leave Marawi City at once and free their hostages, Muslims and Christians alike; Second, we would like to ask the Philippine Government, especially President Rodrigo Duterte, the following – to allow the civilians to return to their homes in areas in Marawi City that were already cleared by the military; stop the aerial bombings of Marawi City if only to salvage houses or buildings that may not have been destroyed yet; stop the abuses of some military and police personnel at checkpoints and accord respect to civilians, especially the women. And ease the access to and from Marawi City, especially the roads through the village of Maliwanag so that people in the 1st District of Lanao del Sur would have better and convenient road access; secure the remains of civilians so they may not be mixed with the garbage in the process of military clearing operations and so that they may be given proper burial even if only skeletons are left of them; to provide immediate appropriate material and financial support to all wounded civilian victims similar to the support being provided by the government to wounded military and police personnel; compensate for the damaged houses and buildings, wasted goods and merchandise of civilians and provide for their livelihood as well. And to rebuild or rehabilitate the mosques and madrasahs and other destroyed structures that represented the Meranao culture and heritage; importantly, the government should not make any hint that it would occupy the land of the Meranaws on the basis of military reservation, instead it should help legitimate owners to have their respective land titles; and for the military and police personnel to avoid occupying mosques and madrasahs. It also demanded from local politicians to account for all the relevant government funds such as the Calamity Fund and all other assistance and donations, and ensure transparent and equitable implementation or spending of the same. And has urged the rebel group Moro Islamic Liberation Front to support its demands by ensuring that these reach all those concerned. The Meranaw Victims Movement strongly denied that locals &'' whom the government and authorities blamed for allowing militants to build up forces and occupy the city &'' condone the violence and said it is willing to face off with IS fighters in an effort to drive out the gunmen. It also blamed local leaders as responsible for failing to prevent the IS attacks. “First, we did not conform with the using of Marawi City as sanctuary neither did we approve of what some of our kinsfolk who claimed to be ISIS/Maute Group did which ignited the war in Marawi City that has brought about grave sufferings to the Meranaw people. Second, we deem unacceptable the actions of the Government that caused the displacement of tens of thousands and deaths of several civilians due to the aerial bombings and use of heavy armaments in Marawi City which are among those prohibited under International Humanitarian Law.” “Third, we hold our local leaders, past and present alike, responsible for failing to prevent the ISIS/Maute Group from carrying out their plan since they were fully aware of the group’s presence in the city prior to the siege, and for literally forsaking the civilians like orphans in the midst of great danger during the onset of the siege on May 23, 2017. Fourth, we are dismayed with the MILF since, until now, nothing was heard of them, let alone have they made a categorical position on the current Marawi crisis,” it said. If all the demands are not met, the group said it will take actions not only against IS militants, but the Duterte government as well. “To our ISIS/Maute Group kinsfolk, if you would not heed our call, we would be compelled to face you because by then you no longer care for the welfare of the people and you did not only fail to realize but have violated the essence of Jihad in Islam. To the Government, this will be the last time that we will ask in relation to previous demands of various sectors of the Meranaw society, and that if the foregoing demands will fall to deaf ears, likewise, we will be compelled to fight for our rights that have been trampled upon and that Jihad becomes our legitimate recourse.” “To our leaders, should we find out that you defraud or corrupt the assistance and support intended for the evacuees, we will unrelentingly pursue until we take them for the people in whatever means possible. To the MILF, take note that the demand for the approval of the BBL becomes irrelevant if the key area where it should be implemented would no longer be in the hands of the Meranaw, and that by then the support of the people of Lanao becomes weak in time that [&'].....»»

Category: newsSource:  mindanaoexaminerRelated NewsSep 20th, 2017

Philippines turns net lender in Q2

MANILA, Philippines — The Philippines became a net lender as it booked a current account (CA) surplus in the second quarter due mainly to higher net receipts.....»»

Category: financeSource:  philstarRelated NewsSep 15th, 2017

BSP to keep CA deficit manageable at below 1%

MANILA, Philippines -  The Bangko Sentral ng Pilipinas (BSP) is keeping the projected shortfall in the country’s current account (CA) position at a manageabl.....»»

Category: financeSource:  philstarRelated NewsAug 27th, 2017

Vanishing current account buffer raises peso risk

THE OUTLOOK for the Philippine peso -- Asia's worst-performing currency -- just keeps getting grimmer......»»

Category: newsSource:  bworldonlineRelated NewsJul 27th, 2017

First current acct deficit in 14 years looms

MANILA, Philippines -  Investment banking giant Credit Suisse said the Philippines would book its first current account (CA) deficit in 14 years this year am.....»»

Category: financeSource:  philstarRelated NewsApr 1st, 2017