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Heed past lessons to avoid deeper plunge
July 19, 2021
|Manila Bulletin
An announcement from Fitch Ratings last July 12 has set off alarm signals as the nation continued to grapple with COVID-19:
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“The revision of the Philippines’ outlook to Negative reflects increasing risks to the credit profile from the impact of the pandemic and its aftermath on policy-making as well as on economic and fiscal out-turns. Fitch believes there are downside risks to medium-term growth prospects as a result of potential scarring effects, and possible challenges associated with unwinding the exceptional policy response to the health crisis and restoring sound public finances as the pandemic recedes.” the ratings agency noted.
هذه القصة من طبعة July 19, 2021 من Manila Bulletin.
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