Monday, July 22, 2013

PHL Economy More Resilient Than Other Economies


THE PHILIPPINES, the former “sick man” of Asia, has fortified its economy, positioning it to weather storms engulfing the region’s vulnerable emerging markets and to snap back faster when global growth recovers.


“The Philippines is generally better placed than other economies because of its high level of reserves, which could help cushion the exchange rate volatility,” Shanaka Jayanath Peiris, the IMF representative in the country, said this month.


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