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Business 28 Sep 2004 | 12:00 AM Premium

Arroyo says peso decline no reason to panic

The Philippine government on Tuesday tried to ease concern over a potential economic crisis fueled by a drop in the peso to record-low levels.

AseanPlus News 02 Sep 2004 | 12:00 AM Premium

Arroyo suspends benefits

Philippine President Gloria Macapagal Arroyo yesterday issued an order suspending several benefits and perks of government employees and officials as part of efforts to save money amid a looming fiscal crisis.

Business 26 Aug 2004 | 12:00 AM Premium

Philippine shares end higher Thursday

Philippine shares closed higher Thursday, boosted by gains in Ayala Corp.-linked stocks, traders said.

AseanPlus News 24 Aug 2004 | 12:00 AM Premium

Philippines in fiscal crisis, says Arroyo

President Gloria Arroyo acknowledged for the first time yesterday that the Philippines was now in a 'fiscal crisis,' as economists warned of an Argentinian-type debt default within the next three years.

Business 24 Aug 2004 | 12:00 AM Premium

Philippine shares close at month-low Tuesday

Philippine shares closed at their lowest level in a month Tuesday, following remarks by President Gloria Macapagal Arroyo that the country is in the middle of a fiscal crisis.

Business 24 Aug 2004 | 12:00 AM Premium

Philippines able to service its debt say officials

The Philippines is able to service its debt, the government said Tuesday, as officials scrambled to reassure jittery investors a day after the president rattled the markets by saying the country was in the throes of a fiscal crisis.

Business 24 Aug 2004 | 12:00 AM Premium

Arroyo: Philippines in fiscal crisis

President Gloria Arroyo said the Philippines is already in the midst of a fiscal crisis, and urged the people to be prepared to make sacrifices for the nation's well-being.