MANILA, Philippines (AP) - A protracted political crisis and delayed fiscal reforms are casting a long shadow over the Philippine economy, already beset by a yawning budget deficit and a huge debt, with analysts predicting more gloom amid a looming credit rating downgrade.
International rating agencies Fitch and Standard & Poor's on Monday cut their credit outlooks for the Philippines to negative from stable, citing political and economic uncertainty amid the clamor for President Gloria Macapagal Arroyo's resignation.