The country’s central bank stated on Thursday they have moved to issue further liquidity into the Philippine financial system amid an environment of declining inflation and lower economic growth in the first quarter of 2019. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno stated to the press that the amount of cash banks is required to immobilize in their vaults will be reduced by 200 basis points in three stages
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Department of Finance (DOF) urges the private sector to participate in more infrastructure projects aimed at improving the country’s ports and building more terminals around the country. Finance Secretary Carlos G. Dominguez III encouraged Asian Terminals Inc. (ATI) and its shareholder Dubai’s DP World to participate in the infrastructure projects of the government during a speech on Monday at the inauguration of Berth 2 of the Batangas Container Terminal (BCT).
The country comes closer to securing a single-A credit rating from Japanese Credit Rating (JCR) Agency, after the debt watcher raised its outlook on the country to BBB+ positive from BBB+ stable. A statement showed the government’s Investor Relations Office (IRO) noted JCR upgraded the outlook on the Philippines because of the “government’s twin efforts to accelerate infrastructure development and boost revenues through tax reform.” “JCR’s BBB+ rating with positive
The BSP lowered the volume of its term deposit facility (TDF) offering next week to P10 billion — the lowest in history, due to forthcoming holiday weekend next week. The P10 billion in term deposits to be offered on April 17 will only be under the seven-day tenor, a Bank Sentral ng Pilipinas advisory disclosed. “Offered tenors were adjusted in view of the regular public holidays on May 1 and
The country opened the year with a double-digit drop in investments thru foreign companies or individuals in January, pulled by the drop-in equity capital placements during the month. Conferring to data released by the Bangko Sentral ng Pilipinas (BSP), foreign direct investment (FDIs) clear-fell 38.2 percent to register an inflow of $609 million versus the $986 million inflow recorded the same month last year. “The decline in FDI net inflows