Article Abstract:
The recovery of the Philippine export sector may be delayed by the conservative financial reform moves being implemented by the government. Exporters are hindered by high prevailing interest rates as a result of problems encountered by the Central Bank of the Philippines. The bank's financial problems stem from unsound business practices it was forced to implement, such as the purchase of dollars as a limit on peso appreciation. The foreign reserve is used for debt servicing and the purchases present new problems pertaining to the liquidity of the peso.
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Article Abstract:
Philippine entrepreneur William Gatchalian is building a personal business empire at a rapid pace prompting some observers to wonder whether he can keep it together. Gatchalian has embarked upon a buying binge and owns almost a dozen major companies spread among five major business groups ranging from banking, plastics and real estate. The 46-year old Chinese-Filipino established domestic air carrier Air Philippines in Mar 1996 and plans to expand its fleet from 12 to 16 aircraft.
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Article Abstract:
Philippine Pres Fidel V. Ramos expects to lead his country towards political and economic stability. The economic ills that has been plaguing the Philippines is attributed by observers to the political instability generated by the coup attempts against the government of Corazon C. Aquino. Reforms in two key areas of the economy are needed. Tax reforms should be implemented and moves to open up the economy to foreign investments should be maintained.
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