What tiger?

Article Abstract:

The Philippines economy has been hit by the drop in value of the Philippine peso, stock price falls, and the impact of the El Nino current which has led to drought, affecting agriculture. Interest rates have risen which has affected the construction industry and financial services. Fuel prices are also set to rise as a result of the devaluation, and general inflation has risen. The Philippine banking system is less exposed to real estate than that of Thailand so is in a stronger position, and the economy also benefits from migrants' remittances.

Administration of General Economic Programs, Currency Stabilization Programs, Currency stabilization

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Perceived values: economic strife looms after peso devaluation

Article Abstract:

Philippines central bank governor Gabriel Singson has achieved a great deal since taking over in 1993, and the peso has strengthened to 26.4 to the dollar in June 1997, compared to 28 to the dollar in 1991. However its fall in July to 29 to the dollar and the bank's decision not to defend the peso has led to a period of instability. Singson however explains that the peso's strength has been affected by the intercession of speculators to the market.

Prices and rates

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Peso prowess

Article Abstract:

The elimination of foreign exchange controls by the Ramos government means market forces would be allowed to set the rate of the Philippine peso vis-a-vis the US dollar. Observers are divided in their opinion on whether the peso would strengthen or depreciate by the end of the year. Whatever course the peso may take, the government should resist the temptation to intervene and let market forces alone determine the exchange rate.

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