Philippines country credit risk will be in the spotlight over the next six months given that the 2010 borrowing requirement will probably hit record levels, and ahead of May’s presidential and congressional elections. However, increased volatility looks more likely than a fiscal crisis. The government debt burden is manageable. Moreover, the sound policies of recent years should stay in place, GDP growth will probably accelerate, and foreign exchange reserves will continue to rise.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.