LONDON -Argentina plans to tap a $7.5-billion disbursement from the International Monetary Fund to repay China part of the money it borrowed through a currency swap line, two sources with direct knowledge of the matter said on Wednesday. Latin America’s third-largest economy recently used $2.8 billion equivalent of yuan to cover just over half of two repayments from a 2018 IMF loan, in order to avoid a default to the multilateral lender. With net negative foreign exchange reserves of over $8 billion, Argentina is expected to send back as soon ...
Life insurance is a particularly effective risk management tool for Filipinos, given the unique socioeconomic challenges and cultural values that characterize the Philippines. Here are several reasons that illustrate why life insurance is especially important for Filipino families. In the Philippines, there is a strong cultural emphasis on family and community support. It is common for a single income earner to support multiple family members, including children, spouses and often extended family such as parents and siblings. Life insurance ens ...
The SSS on Thursday said that members and pensioners affected by the onslaught of Severe Tropical Storm Kristine could avail salary and pension loans.
MANILA -As its chief had hinted, the Bangko Sentral ng Pilipinas (BSP) resumed hiking its policy rate in an off-cycle decision on Thursday, with the possibility of further tightening in a bid to bring inflation back to target as price pressures continue to build. The Monetary Board (MB) lifted the key rate by 25 basis points to 6.5 percent after what analysts called a “hawkish pause” for four straight meetings. It was a move that BSP Governor Eli Remolona Jr. had repeatedly telegraphed to the market a few days ahead. The MB was not supposed ...
“Nag-aalala ka dahil nagmamahal ka (You worry because you care).” · This was the sentiment shared by Ms. Sharon Cuneta in her latest vlog for the Insular Life (InLife) Dreamweaver Series. “My life still had its ups and downs but generally I have been really fortunate. And while most of you will see me as an accomplished individual, believe it or not, I still have my own share of worries. I still worry about my kids, my husband, my family, which is just normal,” the mom of KC, Frankie, Miel, and Miguel said. ...
Rural and cooperative banks continued to do the heavy lifting in extending loans to micro, small and medium enterprises (MSMEs).
The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (Jica) have jointly launched the Credit Risk Database Scoring Model to help lenders better assess the creditworthiness of small and medium enterprise borrowers, including those without credit history or adequate collateral. According to BSP Governor Felipe Medalla, this latest tool for banks was intended to bridge the funding gap for micro, small and medium enterprises (MSMEs) while enhancing the credit risk management of financial institutions using a data-dri ...
Productivity depends on many factors, including our workforce’s knowledge and skills and the quantity and quality of the capital, technology and infrastructure that they have to work with, said American economist Janet Yellen. The Philippines suffers from unemployment and poverty because of poor infrastructure. In a report by academic Richard Javad Heydarian for Forbes Magazine, the Japan International Cooperation Agency (Jica) found that traffic congestion in Manila, caused mainly by poor infrastructure, led to losses of about P2.4 billion i ...
With the country’s largest business organization, the Philippine Chamber of Commerce and Industry, joining the call for the phaseout of Pogo
The Small Business Administration (SBA) guarantees SBA loans to help business owners receive funding from banks and commercial lenders.