BSP chief calls for improved government finances

Bangko Sentral ng Pilipinas Governor Rafael Buenaventura said on Wednesday 7 July that the government should work harder to improve its fiscal performance to prevent a credit rating downgrade that would increase foreign borrowing costs.

He said the government could improve the country's finances by crafting a well-rounded economic program and by increasing tax-collection.

According to ABS-CBN News Fitch Ratings warned last week that the Philippines faces a possible downgrade unless it could mak