Political noise erodes investors' confidence
MANILA (24 June 2005) -- The
growing political noise hounding the Philippine nation is starting to erode investors' confidence at a time when the country needs it most to meet the uncertainties in the global economy.
Press Secretary Ignacio Bunye made the statement after the International Monetary Fund (IMF) commented that political storm may derail economic prospects as other international financial institutions start to notice the political storm buffeting President Gloria Macapagal-Arroyo's government.
Bunye, who is also the Presidential Spokesman, pointed out that the opposition continues to sabotage the economic gains but the Filipino people continue to thwart all efforts intended to weaken the economy.
He, however, expressed confidence that these incipient fears would be overcame by the country's strong economic fundamentals as the Arroyo Government remains determined to stay in the course of urgent change and reform.
"Our economy is resilient enough, and our political system's mature enough, to withstand all challenges," Bunye added. (PIA-MMIO)
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=86603.0