‘Prolonged uncertainty may cloud PH outlook’

Moody’s Investors Service said the current security situation in the Philippines—referring to the heightened security alert following the deadly Sept. 2 bombing in Davao City—has limited impact on the country’s credit ratings, but the debt watcher warned of a “clouded” economic outlook if recent events lead to prolonged uncertainty.

It said President Rodrigo Duterte’s spending of political capital to defend his campaign against illegal drugs could exact a toll on his government in terms of lost opportunity for urgent economic reform.