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Among emerging economies: Philippines ranks 6th best in fight vs COVID
MANILA, Philippines — The Philippines has been ranked as the sixth strongest among 66 emerging market economies in facing the coronavirus disease 2019 or COVID-19 pandemic, according to London-based publication The Economist.
According to The Economist, Russia, Peru, and the Philippines look relatively robust while 30 are in distress or flirting with it.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the Philippines being ranked as one of the strongest among emerging economies reflects the country entered the health crisis from a position of strength.
“The Philippines before the COVID-19 crisis was on the road to A-rating. We’re not saying that the Philippines has not suffered from this crisis, together with the rest of the world,” he said in a text message to reporters.
Diokno said other countries are not well positioned, noting that the Philippines could put into good use the fiscal and monetary space from past reforms and prudent management of the economy to address the COVID-19 challenges.
“The strong economy may be attributed to the well crafted economic plan, the close coordination and competence of President Duterte’s economic team, and the President’s strong leadership in getting the much needed legislation passed by Congress,” Diokno said.
MANILA, Philippines — The Philippines has been ranked as the sixth strongest among 66 emerging market economies in facing the coronavirus disease 2019 or COVID-19 pandemic, according to London-based publication The Economist.
According to The Economist, Russia, Peru, and the Philippines look relatively robust while 30 are in distress or flirting with it.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the Philippines being ranked as one of the strongest among emerging economies reflects the country entered the health crisis from a position of strength.
“The Philippines before the COVID-19 crisis was on the road to A-rating. We’re not saying that the Philippines has not suffered from this crisis, together with the rest of the world,” he said in a text message to reporters.
Diokno said other countries are not well positioned, noting that the Philippines could put into good use the fiscal and monetary space from past reforms and prudent management of the economy to address the COVID-19 challenges.
“The strong economy may be attributed to the well crafted economic plan, the close coordination and competence of President Duterte’s economic team, and the President’s strong leadership in getting the much needed legislation passed by Congress,” Diokno said.
