Creation of ‘credit rating panel’ a smart move

IN the wake of the sovereign credit rating upgrade obtained by the Philippines from S&P Global Ratings early last week, the Duterte administration announced the formation of an interagency committee to manage the country’s efforts to enhance further its investment grade.

The move to approach the management of the country’s credit rating position in a systematic way is a smart government decision. If carried out successfully, the effort will provide numerous benefits to the country, beyond upgrades to its credit status.