Righting the past's wrongs

Article Abstract:

Data on investments, savings and growth in the Philippine economy will show the mistakes made by policy-makers during the past years. These mistakes eventually led to the country's economic collapse. The debt crisis has eaten into the level of foreign and domestic savings, which played a crucial role in the economic boom of the 1970s. Alleviating the crisis are the government's efforts to control inflation, which, although successful, further cut the levels of savings needed to sustain economic growth. The government should see to it that these past mistakes are not repeated.

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Welcome exchange: cash from abroad keeps economy humming

Article Abstract:

Foreign exchange inflows have powered the Philippine economy's growth under Corazon Aquino and especially Fidel Ramos's governments, though macroeconomic policies and other elements have helped. Rising remittances from overseas workers, immense foreign investment in the stockmarket thanks to globalized financial markets, and direct foreign investment have yielded $22.3 billion in the less than four years of Ramos's leadership, and foreign loans add another $18.8 billion. However, investor sentiment could change quickly.

Analysis, Cover Story, Economic policy, Foreign exchange

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Back in strength

Article Abstract:

The government and major companies in the Philippines are enjoying a reunion with the global capital market that swore off them after a 1983 default. In 1993 the government floated $200 million in bonds, and by 1995, total bond floats had jumped to $5 billion, from $700 million in 1986. Build-operate- transfer schemes for infrastructure projects helped lure foreign investors, and bonds now make up 12.3% of the country's foreign debt, up from 2.6% in 1986. New debt instruments are often more creative, as well.

Funds from Government & Foreign, Capital market, Capital markets, Foreign loans

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