teves-and-tetangco-offer-bullish-perspective-on-philippines

Teves and Tetangco offer bullish perspective on Philippines

Two of Manila's top finance officials reckon the country is in a virtuous circle. They discount the impact of a setback in Senate elections and the resignation of Treasurer Omar Cruz.
In spite of a setback for the Philippines government in the recent Senate elections, the countryÆs two top finance officials sounded positive notes during their roadshow to meet investors in Hong Kong yesterday.

Central bank governor, Amando M Tetangco, noted ôWe are quite bullish on the economy in 2007ö, and added that the March inflation rate of 2.2% was the lowest in 20 years. He also noted that with the peso at a six-and-a-half year high this was a positive factor û since it both aided price stability, and also made it cheaper in peso terms for the government to service its foreign debt. On another positive note, he said that remittances from Filipino overseas...
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