Moody’s sees PH facing income gaps

Moody’s Investors Service has tagged the Philippines as one of the countries in the Asia-Pacific (APAC) region that will face challenges in addressing income gaps after the coronavirus disease 2019 (Covid-19) pandemic ends.

In a report on Tuesday, the New York-based debt watcher said the impact of the pandemic would exacerbate income inequality in the region. This will pose credit risk for sovereigns across the region, particularly those with weaker fiscal capacity and social protection systems, it added.