INQUIRER PHOTO / GRIG C. MONTEGRANDE
MANILA, Philippines — The Asian Development Bank (ADB) said developing economies such as the Philippines, facing rising bond yields and weakening currencies, should strengthen their creditworthiness and fiscal position to withstand higher borrowing costs.
At a press conference on Monday, Masato Kanda, president of the Manila-based lender, said the bank was concerned about the impact of rising borrowing costs on its developing members but was encouraged that emerging-market economies had built buffers against external shocks.
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