Debt prepayments encouraged by strong peso
By Michelle V. RemoPhilippine borrowers prepaid more debts to foreign creditors last year, taking advantage of the stronger peso that made dollar-denominated borrowings cheaper.
Philippine borrowers prepaid more debts to foreign creditors last year, taking advantage of the stronger peso that made dollar-denominated borrowings cheaper.
The appreciating peso poses a threat to the recovery of the manufacturing sector and the jobs it generates, private economists said.
The debate is on. Is the peso getting too strong? Is a weaker peso better?
Some lawmakers are worried that a stronger peso, projected to head south of P40 to the dollar next year, could further pummel the local entertainment industry already staggering from the huge taxes imposed on the box office.
