LAST week, Standard & Poor’s Global Ratings issued a less than encouraging assessment of the Philippines’ sovereign credit score rating status, pronouncing that even as there has been no reason to reduce the united states of america’s ‘BBB’ long-term rating and ‘solid’ outlook, there has been little chance of an upgrade in the subsequent years.
President Rodrigo Duterte replied to the perceived grievance in his commonly captivating manner, announcing in effect that it topics no longer a whit to him what S&P or some other rankings organization thinks, he can constantly do business with Russia or China.
S&P’s problem, as they defined it is that the violence of the anti-drug campaign, and implicitly, Duterte’s tough-hewn manner in drawing close almost any problem, “When combined with the President’s policy pronouncements some other place on foreign policy and national safety, we accept as true with that the stability and predictability of policymaking has dwindled relatively,” and that “rising stress at the Philippines’ institutional and governance settings has the potential to impede the capacity to broaden and implement rapid policy responses.”
At some point Duterte’s unwell-tempered curmudgeon act is going to lose its enchantment and start to have outcomes with tangible expenses. The united states of america’s credit rating may be one of these charges, which become precisely what S&P become looking to factor out.
President Rodrigo Duterte replied to the perceived grievance in his commonly captivating manner, announcing in effect that it topics no longer a whit to him what S&P or some other rankings organization thinks, he can constantly do business with Russia or China.
S&P’s problem, as they defined it is that the violence of the anti-drug campaign, and implicitly, Duterte’s tough-hewn manner in drawing close almost any problem, “When combined with the President’s policy pronouncements some other place on foreign policy and national safety, we accept as true with that the stability and predictability of policymaking has dwindled relatively,” and that “rising stress at the Philippines’ institutional and governance settings has the potential to impede the capacity to broaden and implement rapid policy responses.”
At some point Duterte’s unwell-tempered curmudgeon act is going to lose its enchantment and start to have outcomes with tangible expenses. The united states of america’s credit rating may be one of these charges, which become precisely what S&P become looking to factor out.
