BSP urges Pinoys to get involved in keeping PHL's investment grade rating

There is a need for Filipinos to be proactive in ensuring the country’s investment grade credit rating is maintained beyond 2016, the Bangko Sentral ng Pilipinas' Investor Relations Office (IRO) said Monday.

 

“Active participation of the public is important in ensuring that the seal of good housekeeping from credit-rating agencies is maintained beyond 2016,” the IRO said in an emailed statement.

 

According to the IRO, the country must look beyond the investment grade rating.

 

“While institutionalization of reform has been part of the government’s agenda, citizens must be proactive in demanding from succeeding administrations the commitment to sustainability of reforms,” the IRO said.

 

The IRO noted that the investment grade sovereign credit rating has benefits which are far-reaching not only for the economy in general but for ordinary Filipino as well.

 

In its latest report, debt-watcher Moody’s Investor Service highlighted the Philippines’ economic resilience against the current global conditions.

 

Moody’s cited several factors that placed the country ahead of other emerging markets in terms of managing external adversities. These factors include a strong domestic consumption, healthy external payments position, stable banking sector, rising contribution of private-sector investments to growth, increasing per capital income, benign inflation, and declining debt-burden.

 

“The Philippines’ Baa2 government bond rating reflects the economy’s resilience to the current headwinds buffeting neighboring countries and emerging markets as a whole,” Moody’s said. – Jon Viktor Cabuenas/VS, GMA News