‘Aces’ could lead to ratings upgrade

Structural inflows could shield the Philippine economy from the negative impact of a trade war and drive the country’s credit ratings higher, an ING Bank Manila economist said.

“Given the dynamics akin to the Philippines, with aces in the form of steady OF (overseas Filipinos) remittances and BPO (business process outsourcing) receipts, the Philippines remains more insulated than regional peers even in light of the possible trade war,” ING Bank Manila senior economist Nicholas Antonio Mapa said in a report released earlier this week.