FAILURE to decisively address persistent flooding and other climate issues could make it significantly harder for the Philippines to move beyond lower middle-income status, a former Bangko Sentral ng Pilipinas (BSP) official said.
FAILURE to decisively address persistent flooding and other climate issues could make it significantly harder for the Philippines to move beyond lower middle-income status, a former Bangko Sentral ng Pilipinas official said.
'While the government has since authorized unprogrammed funds for disaster response and a 'conveyor belt of aid,' Guinigundo argued that more anticipatory strategies were needed.Without effective preemptive policies, he stressed that repeated climate shocks could threaten the durability of critical infrastructure and hinder sustainable growth.'More anticipatory and strategic moves by the government are needed in order to minimize the hit on both life and property.
Status Target At Risk From Disasters
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bangko Sentral again cuts interest rates as inflation easesInterest rates on the overnight deposit and lending facilities were adjusted to 5.5% and 6.5%, respectively
Read more »
Bangko Sentral affirms monetary easing planThe Bangko Sental ng Pilipinas (BSP) said Wednesday it expects a gradual relaxation of monetary policy as inflation rate remains within the target range.
Read more »
BSP, BAP to expand repurchase marketTHE Bangko Sentral ng Pilipinas (BSP) and the Bankers Association of the Philippines (BAP) will expand the repurchase agreement (repo) market to include fund managers and trust companies.
Read more »
PH eyes Italian agri machinery to boost farmers incomeThe Department of Agriculture (DA) and the Italian Ministry of Agriculture agreed to draft a memorandum of understanding (MOU) to boost agricultural
Read more »
BSP net income surges to P95.2B as of end- JulyTHE Bangko Sentral ng Pilipinas' (BSP) net profit grew over five times as of the end of July from a year earlier as revenues surged and expenses dipped, preliminary data showed.
Read more »
Power plant failure triggers Cuba blackoutHAVANA — Cuba on Friday was racing to restore electricity after the failure of the island's biggest power plant caused a nationwide blackout, coming on the heels of weeks of extended outages across the cash-strapped country.
Read more »