The ADB is closely monitoring the Philippine economy as it lags regional averages amid global oil price shocks driven by war.
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What happened
The ADB is closely monitoring the Philippine economy as it lags regional averages amid global oil price shocks driven by war.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.ADB monitors Philippine economy; Suhail Khan appointed Director for Private Sector Financial Institutions.1 source
ADB trims Philippine GDP projections amid slow growth outlook and S&P downgrade.1 source
ADB monitors Philippine economic indicators as the economy lags regional averages due to war-driven oil shocks.1 source
IMF and ADB downgraded growth outlook for the Philippines amid El Niño and capital attraction issues.1 source
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Part of
The Asian Development Bank is deploying financing to help the Philippines cope with the impacts of the ongoing war in the Middle East.Also in this story
- ADB approved $1.5 billion to assist the Philippines amid economic strain caused by the Middle East conflict.
- ADB raised a health care loan, co-financed by JICA, to support the Philippines amid widening financing needs due to Middle East shocks.
The entities involved
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Philippines
archipelagic country in Southeast Asia
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Asian Development Bank
regional development bank
- The Asian Development Bank has lifted its growth outlook for developing Asia and maintained its forecast for China at 4.6%, noting energy costs from the Middle East conflict.
- The Philippines is seeking international financial support from the World Bank and Asian Development Bank for its budget needs.
Related events
- The Philippines is involved in a regional push regarding investment needs for a regional grid, alongside Southeast Asia and the World Bank Group.
- Trade costs are benchmarked against the regional average involving the Association of Southeast Asian Nations and the Philippines.
- Middle East tensions are driving up global oil prices and inflation, prompting the BSP to manage the peso's foreign exchange market.
- Middle East hostilities increase oil price volatility, while the Philippines aids Taiwan's semiconductor supply chain and BSP monitors domestic banking health.
- The Bangko Sentral ng Pilipinas is facing weak growth and accelerating inflation pressures due to oil price shocks.