Philippines governor issues caution over proposed fiscal package

Faster vaccinations, structural reform and infrastructure are key to recovery, Diokno says

Benjamin Diokno
BSP governor Benjamin Diokno
Photo: Axelchard13/Wikimedia

The governor of the Philippines central bank called for a faster Covid-19 vaccination programme and cautioned the government over a possible fiscal package.

Benjamin Diokno said he thought the proposed fiscal stimulus would not improve the country’s credit ratings, the news agency Reuters reported on July 18. Credit ratings agency Fitch’s downgraded its outlook on Philippines government debt from neutral to negative on July 12, although it kept its grading at BBB.

Diokno said the Philippines

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