$541M in ‘hot money’ exits Philippine markets
FOREIGN portfolio investments (FPI) yielded a net outflow for a second straight month in March as a surge in coronavirus infections prompted investors to seek safe havens.
BoP deficit reaches $73 million in March
THE country’s balance of payments (BoP) stood at a deficit for the third straight month in March as the National Government continued to pay its dollar obligations, according to the Bangko Sentral ng Pilipinas (BSP).
NCR’s economic output shrinks by double digits — PSA
THE economy of the National Capital Region (NCR), alongside those of Calabarzon and Central Luzon, suffered double-digit contraction that weighed heavily on the country’s output last year, the Philippine Statistics Authority (PSA) reported on Thursday.
World to spend $157 billion on COVID-19 vaccines through 2025
TOTAL global spending on coronavirus disease 2019 (COVID-19) vaccines is projected to reach $157 billion by 2025, driven by mass vaccination programs underway and “booster shots” expected every two years, according to a report by US health data company IQVIA Holdings Inc released on Thursday.
Philippines to secure $3.9-billion ADB loans this year
The Asian Development Bank (ADB) increased its lending program for the Philippines this year to $3.9 billion (P188.9 billion), after including a fresh loan...
PHL faces ‘fragile’ recovery — ADB
THE Philippine economy’s recovery is expected to be “fragile,” the Asian Development Bank (ADB) said on Wednesday, as it slashed its growth forecast to 4.5% this year due to uncertainties over the prolonged coronavirus pandemic.
Del Monte Philippines revives IPO plan
DEL MONTE Philippines, Inc. (DMPI) on Wednesday revived its initial public offering (IPO) plan, which aims to raise as much as P44 billion.
The ‘double budget’ and the outlook for infrastructure spending
FOR YET another year, the government has been forced to operate under a “double budget” arrangement, in which the unspent funds from the prior periods were authorized for use beyond the end of the calendar year they were intended for.
ARTA cracks down on LGUs imposing pass-through fees on goods transportation
LOCAL government units (LGU) that continue to impose pass-through fees on goods transportation may be investigated under new guidelines from the Anti-Red Tape Authority (ARTA).
March deficit spending balloons
THE National Government’s budget deficit widened to P191.4 billion in March, as spending grew by double digits and revenues slipped amid a stricter lockdown, the Bureau of the Treasury (BTr) reported on Tuesday.
Government to borrow P170B in May
THE Bureau of the Treasury (BTr) is set to raise P170 billion from the domestic debt market in May, as the government seeks to boost liquidity amid the pandemic.
Fitch Ratings lowers PHL growth outlook
FITCH RATINGS lowered its economic growth projection for the Philippines this year, as it sees the country struggling to contain a renewed surge in coronavirus disease 2019 (COVID-19) infections.