Tuesday, October 17, 2006
RP to get rating hike from credit agency: Palace (10:20 a.m)
MANILA -- Malacañang welcomed reports that the Philippines could be due for a credit rating upgrade from Moody’'s Investor Service.
Arroyo, in her speech at the 58th Charter Day of Calbayog City in Samar, said "fiscal discipline is winning the day for the Philippines.”
Press Secretary Ignacio Bunye said the credit ratings will lower the country’'s borrowing costs, particularly its interest payments, which would enable government to use the extra funds for social services.
Bunye, who is also Presidential spokesman, assured international financial institutions and credit rating agencies that government will continue to stick to its fiscal and economic reforms. (JMR) |
