Philippines central bank urges further fiscal rest

With an election scheduled for May 2004, Rafael Buenaventura of the Philippine central bank said he is confident the government would resist the temptation to increase spending in the run up to the polls. "I don't they will be foolish enough to do that" he said in an interview.

Source: Reuters

Philippine central bank governor Rafael Buenaventura said on Wednesday he was reasonably confident the government would "stay the course" and resist the temptation to ramp up spending in the run-up to the

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