In policy reverse, manila moves to stop peso fall

Article Abstract:

The Philippine central bank has reversed its earlier policy of weakening the peso and it is now actively intervening in an effort to arrest its declining value. Analysts believe this policy shift is aimed at appeasing foreign investors, many of whom have been extremely nervous about currency movements since the Mexican devaluation crisis started. Many predict that pressure on the peso will continue as prior measures to push down the value of the peso become implemented.

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Vietnam may be taking the wrong path to tigerdom by following the Philippines

Article Abstract:

Vietnam is mimicking the Philippines' economic programs in its efforts to become an industrialized nation by year 2020. Vietnam, which prioritized export promotion, has been gradually eliminating trade barriers and aggressively seeking foreign investors. The country's protectionist approach, however, is expected to fail since local industry has remained inefficient and government red tape continues to stifle exports.

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Decline of peso may help boost economy in long run

Article Abstract:

Economists regards that peso devaluation may bolster Philippine economy when it stabilizes in a month or so. At the rate it is going, the net effect of the peso devaluation is driving up government revenues on import duties. On the other hand, the financial sectors express fear that a longer peso devaluation and central bank high interest rate may send small and midsize firms to dissolution.

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