The United Nations (UN) in the Philippines and the United States Embassy in Manila welcomed the delivery of more than two million doses of AstraZeneca vaccines to the Philippines under the COVAX facility, the international partnership established to ensure equitable distribution of COVID-19...
The Anti-Red Tape Authority (ARTA) vowed to double its efforts to further make positive changes in the Ease of Doing Business (EODB) situation in the country as the agency cited the Philippines' continued performance in the said arena. ARTA ARTA Director-General Jeremiah Belgica made the statement...
75 YEARS OF PH-US RELATIONS The US government has committed to continue extending economic assistance to the its ally the Philippines in the form of grants for infrastructure projects, investment insurance coverage, technical and sustainability assistance as both countries marked their 75...
The World Bank-funded modernization project of the Bureau of Customs will align the agency’s processes and standards with the world’s best and most efficient customs services, the Department of Finance (DOF) said. In a statement, Finance Secretary Carlos G. Dominguez III said on Friday,...
Moody’s Analytics says International economists have sounded the alarm over the Philippines’ economic situation as the World Bank said the nation is suffering a triple whammy blow from the COVID-19 pandemic, while Moody’s Analytics describes the unfolding events in the country as...
Two Philippine cities — Quezon City and San Fernando City — have been cited for their waste recycling collaboration with informal waste pickers that helped stymied poverty as recycling creates jobs in their localities and supports the recovery amid the economic difficulties during the pandemic,...
Developing countries in East Asia, including the Philippines, need to support innovation to promote productivity growth and economic progress, a new World Bank report revealed. While developing countries in East Asia have an impressive record of sustained growth and poverty reduction, World Bank...
WASHINGTON (AFP) - The World Bank on Tuesday downgraded its outlook for the global economy, and warned the situation could deteriorate if Covid-19 infections accelerate or the vaccine rollout is delayed. The coronavirus pandemic also has worsened the risks surrounding the rising debt load in...
Debt service burden down 8% The Philippines will continue to have a strong debt sustainability position and will remain comfortably way below what the Bangko Sentral ng Pilipinas (BSP) considers a danger threshold even as the country borrow more from foreign sources to fund COVID-19 vaccine...
The World Bank has approved two loans to the Philippines to support the country's recovery efforts from the coronavirus pandemic, improve competitiveness, as well as build resilience against shocks and natural disasters. In a statement, the Washington-based lender, said it approved $900 million...
Climate-related challenges remain formidable threats to the Philippines’ gradual recovery from the prolonged coronavirus pandemic, the Department of Finance (DOF) said. Speaking at a virtual World Bank forum, Finance Secretary Carlos G. Dominguez III acknowledged the urgency of implementing...
The World Bank expects the Philippine economy to slip deeper than initially estimated, but the level of contraction will be less severe than the Duterte administration’s projection. A motorcyclist travels along a deserted road in Bonifacio Global City, Metro Manila, the Philippines. (Geric...
