The Philippines must pursue long-term reforms to thrive amid intensified uncertainty wrought by geopolitics and external developments, including Donald J. Trump's impending return to the White House seen solidifying the United States' trade protectionism, according to a World Bank economist. On the...
With an average of $3.5-billion (about P204 billion) asset losses inflicted by a string of strong typhoons and earthquakes to the Philippine economy each year, the World Bank enjoins tapping disaster-risk finance, especially private-sector insurance, to boost preparedness. In an Oct. 31 report...
A Mauritius-based fund manager is eyeing a $50-million investment from the International Finance Corp. (IFC) to support medium-sized firms in the South and Southeast Asian regions, including the Philippines. The IFC disclosed on Oct. 22 that Creador Management VI Ltd. sought funding from the World...
The Philippines is the World Bank's fifth-biggest borrower for the second-straight year, coinciding with the first two years in office of President Ferdinand R. Marcos Jr. The World Bank's latest Annual Report disclosed on Oct. 18 showed that in fiscal year 2024 covering the period July 1, 2023 to...
Financial markets in the Philippines and the broader Asia-Pacific region stand to benefit from downward interest rates in the United States, although risks from a "benign" US economy may temper gains, according to a World Bank economist. "So far, the decline in interest rates in advanced...
The Philippine government is seeking a one-year extension and partial reallocation of a World Bank loan that has been partly funding the Pantawid Pamilyang Pilipino Program (4Ps) since 2021. A World Bank restructuring paper showed that the Department of Finance (DOF) on Sept. 17 requested the...
The Department of Finance (DOF) has secured a standby fund from the World Bank that the Philippines can readily utilize during emergency or crisis situations. In a statement on Monday, April 22, the DOF announced that the signing of the Rapid Response Option (RRO) agreement with the World Bank...
The Department of Finance (DOF) said that the World Bank Group (WBG) will assemble a team to assist the Philippines in enhancing its digital infrastructure, specifically its tax system. In a statement on Saturday, April 20, the DOF said that WBG President Ajay Banga expressed support for the...
AyalaLand Hotels and Resorts Corp (AHRC) has signed an agreement with the International Finance Corporation (IFC) signifying its commitment to achieve EDGE Zero Carbon certification for 2,826 rooms in its hotel portfolio by 2026, a first for a hotel group in the Philippines. EDGE Zero Carbon...
The World Bank (WB) has reiterated its strong support for the Marcos administration in its quest to achieve its vision of becoming a prosperous, inclusive, and poverty-free society by 2040. *File photo* World Bank Managing Director for Operations Anna Bjerde said this as she concluded her two-day...
Multilateral financier World Bank has urged the government to give incentives for investments in climate smart agriculture, renewable energy (RE) and to tap ESG (environmental, social, governance) bonds to finance climate actions countering disasters.
Presenting its Country Climate and...
WASHINGTON, United States (AFP) – The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries and geopolitical strains. Concerns over high inflation, rising...
