Experts say OFWs can cope with it
EDGAR SERRANO MANILA
Measures are being contemplated by Philippine
finance officials to soften the impact of a strong
peso against the dollar which has greatly alarmed
the country’s small and medium exporters and the
business sector in general.
However, no clear government intervention is yet in
sight to help OFW families cope with the
diminishing value of their dollar income.
A government report last week showed the
economy grew 6.9 per cent in the first quarter,
accelerating from a revised 5.5 per cent in the
previous three months, and faster than the 5.7 per
cent prediction in a survey by an international news
agency.
EDGAR SERRANO MANILA
Measures are being contemplated by Philippine
finance officials to soften the impact of a strong
peso against the dollar which has greatly alarmed
the country’s small and medium exporters and the
business sector in general.
However, no clear government intervention is yet in
sight to help OFW families cope with the
diminishing value of their dollar income.
A government report last week showed the
economy grew 6.9 per cent in the first quarter,
accelerating from a revised 5.5 per cent in the
previous three months, and faster than the 5.7 per
cent prediction in a survey by an international news
agency.
According to the
World Bank, the
Philippines ranks
fifth globally in
terms of
remittances
received from its
overseas workers
World Bank, the
Philippines ranks
fifth globally in
terms of
remittances
received from its
overseas workers
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Measures eyed amid strong rise in peso
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Expecting the peso to
continue appreciating,
Finance Secretary
Margarito Teves said
the government-owned
Development Bank of
the Philippines
announcedthat it is
working on
a US$1 billion facility
continue appreciating,
Finance Secretary
Margarito Teves said
the government-owned
Development Bank of
the Philippines
announcedthat it is
working on
a US$1 billion facility
to help guard exporters from losses resulting from