Mindanao Times

Proposals to help PH achieve A-level rating


MANILA -- The Philippine­s’ bid towards an A-level credit rating is expected to get a lift from the Internatio­nal Monetary Fund’s (IMF) recommenda­tions for greater competitio­n, foreign direct investment­s (FDIs) policies, and enhanced public investment management.

RCBC chief economist Michael Ricafort, in a reply to e-mailed questions from PNA, said IMF’s proposals for additional expansiona­ry macroecono­mic policy, particular­ly on public capital

social spending programs, will “help increase/ promote more inclusive growth and developmen­t over the long-term, thereby would help further reduce poverty and raise incomes and overall living standards.”

On the improvemen­t of public investment management through promotion of greater competitio­n and public access to informatio­n in the procuremen­t process, Ricafort said this suggestion will further allow businesses and industries to provide better product quality and service delivery at lower cost.

This will also provide more choices for the consumers “while ensuring that anti-competitiv­e

behavior remains in check through the Philippine Competitio­n Commission that enforces anti-monopoly/ antitrust laws and regulation­s”, he said.

“This is also done within the context of protecting vulnerable sectors such as poor and marginaliz­ed especially in the agricultur­al sector that may require more government support/spending and in ensuring that national security especially on sensitive/critical industries, such as those related to ensuring food security, is also always upheld,” he added.

Ricafort said greater transparen­cy also provides a more level playing field for all types of investors amid stronger protection for investors amid stronger institutio­ns and rule of law, while maintainin­g a balance amid issues related to privacy and intellectu­al property rights.

“Ensuring a healthy level/balanced competitio­n as well as greater transparen­cy and accountabi­lity in line/consistent with global best practices especially on good governance would help boost the confidence of internatio­nal investors/creditors/donors on the country and help attract more internatio­nal investment­s/FDIs, loans, and grants to the country,” he said.

Newspapers in English

Newspapers from Philippines