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Banking & Finance

Philippine Financial System Shows Soundness, Resilience and Readiness in Second Half of 2019

The BSP releases the Enhanced Report on the Philippine Financial System for the Second Semester of 2019.[1] The Report highlights the capability of the Philippine financial system, with banking system at the core, to withstand external vulnerabilities such as the Coronavirus Disease 2019 (COVID-19) pandemic. Existing prudential reforms guided the BSP-supervised financial institutions (BSFIs) to maintain sufficient cushion in times of …

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BSP Adopts Relief Measures in Support of the MSME Sector

The Monetary Board approved prudential measures to assist the micro-, small- and medium enterprise (MSME) sector carry on with its business during the corona virus disease (COVID-19) crisis, as well as hasten recovery and sustainability of MSME operations in the post-crisis period.  The MSME sector is a vital component of the Philippine economy owing to its capacity to generate employment …

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LBP, DBP to jump-start economy after quarantine

To kick-start the economy when the quarantine gets lifted, government plans to inject more than P30 billion in loans for companies affected by the business disruptions caused by the COVID-19 pandemic.

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Weak fuel demand to continue in 1st half of 2020

Global demand for fuel is expected to remain weak for the first half of 2020 and may recover in the second half as economies start to open up after COVID-19 pandemic, according to Moody’s Investors Service.

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Government sets P170-B domestic borrowing program

The Bureau of the Treasury (BTr) plans to borrow P170 billion from the domestic market by issuing government securities.

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Oil prices fall to 18-year lows

Oil languished at multi-year lows, with WTI crude close to its weakest level since 2002, as dire warnings about a virus-triggered demand shock overshadowed massive output cuts.

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Businesses to do rapid testing on employees

A big number of businesses, including micro, small and medium enterprises (MSMEs), are planning to do rapid testing on their workers to fasttrack resumption of their operations.

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Philippine economy to contract in Q2 due to Covid-19

The National Economic and Development Authority (NEDA) and local economists expect the economy to post a deep contraction in the second quarter this year due to the COVID-19 pandemic.

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DOF rejects call for debt payment moratorium

Finance Secretary Carlos Dominguez III rejected a call for government to consider a moratorium on its debt payment to raise more funds to fight the COVID-19 pandemic, calling it ‘narrow-sighted’.

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‘Rolling restart’ of economy possible – IATF

Government is considering a “rolling restart” and “rolling reopening” schemes for the gradual lifting of the Luzon-wide enhanced community quarantine after April 30 to help jumpstart the economy while the coronavirus disease 2019 (COVID-19) pandemic is being contained, according to a member of the Inter-Agency Task Force (IATF) on Emerging Infectious Diseases.

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