Philippines ranks 15th in Asia-Pacific economic risk index

The Philippines ranked 15th out of 20 countries in Moody's Analytics' Relative COVID-19 Economic Risk Index for Asia-Pacific.

Moody's Analytics cited the country's low vaccination rate, high incidence of new cases, and high death rates as factors contributing to its economic risk.

Steven Cochrane, Moody's Analytics chief economist, noted that the Philippines and Indonesia will struggle with less effective COVID-19 policies such as vaccine shortages and ineffective social distancing measures, creating uncertainty about when a rebound might occur.