BSP chief: PH credit rating downgrade 'highly unlikely'

Philippines' credit rating downgrade is highly unlikely despite the record drop in GDP, according to BSP Governor Benjamin Diokno.

Diokno stated that the Philippines is not among the 82 sovereign nations with negative outlook ratings from credit agencies in the first half of 2020.

He highlighted the country's strong macroeconomic fundamentals such as low debt-to-GDP ratio, high tax effort, benign inflation, a strong peso, and substantial gross international reserves.