MANILA, March 30 (The Philippine Inquirer/ANN) - A delayed economic rebound due to recent tighter restrictions to curb a surge in COVID-19 infections is a “credit negative” risk to the Philippines’ investment-grade rating, debt watcher Moody’s Investors Service said Monday.
But more than the potential impact on the government’s borrowing costs, Moody’s said “the renewed measures will delay economic recovery, weigh on prospects for fiscal consolidation and exacerbate social risks” such as poverty, income inequality and joblessness.