The Philippine peso's gains against the United States (US) dollar at the start of the year may be erased by the widening current account deficit, according to the World Bank. In its Philippines Monthly Economic Developments report for March 2025, the Washington-based multilateral lender noted that...
The national government's debt soared to a new record high of ₱16.63 trillion at the end of the first two months of 2025, putting pressure on its capability to repay obligations. The latest Bureau of the Treasury (BTr) data released on Tuesday, April 1, showed that outstanding obligations as...
After the World Bank loan for the delayed project aimed at mitigating flooding in Metro Manila was extended last year, the Washington-based multilateral lender reported implementation progress at a number of pumping stations. In a March 27 implementation status and results report, the...
With the Philippine central bank holding off on slashing key interest rates amid global economic uncertainties, the World Bank expects its recent move to lower banks’ reserve requirements to stimulate lending activity. According to the multilateral lender’s latest report on the...
The Philippines is expected to sign in July a record-high $1-billion loan agreement (over ₱57 billion) from the World Bank to fund its sustainable agricultural transformation program, according to the Department of Agriculture (DA). In a statement, the DA said Agriculture Secretary Francisco Tiu...
Four Philippine projects funded by World Bank loans totaling over $1.37 billion (nearly ₱80 billion) are progressing satisfactorily, according to the Washington-based multilateral lender. In separate implementation status and results reports this month and last month, the World Bank said the...
Filipino workers need not worry about artificial intelligence (AI) immediately taking over their jobs as the World Bank reported that developing countries, including the Philippines, have lower exposure to AI disruptions. "For developing countries, and in particularly low-income countries, the...
Developing economies, including the Philippines, are projected to have the weakest average growth in the first 25 years (2001–2025) of the century, and these countries will continue to grapple with growth setbacks in the next quarter, the World Bank said. According to the multilateral lender’s...
While the East Asia and Pacific region has driven the reduction of the Global Prosperity Gap (GPG), the Philippines remains classified as a country with high inequality, World Bank data revealed. According to a World Bank blog published on Jan. 8, the region has greatly contributed in closing...
The Philippine government is leveraging support from foreign lenders this year to drive its development objectives, securing billions in loans for projects aimed at transforming the country. Online documents reviewed by the Manila Bulletin revealed that the Marcos administration will borrow a total...
At the start of next year, selected elementary schools in the provinces of Lanao del Sur and Maguindanao would receive funding under a World Bank-assisted, civil society-led project aimed at improving primary education in previously war-torn areas in the southern Mindanao island. "The training on...
The Philippines' justice system lags behind not only in the region but also globally in terms of access, efficiency as well as quality, according to data aggregated by the World Bank. The Washington-based multilateral lender's Prosperity Data360 Justice Country Snapshots for the Philippines...
