Philippines’ central bank sees solid rebound for its economy
12 Jan 2021 The headquarters of the Philippines’ central bank in Manila. The Philippines’ central bank governor has predicted solid rebound for pandemic-hit economy in 2021.
The worst is over for the pandemic-hit Philippine economy, and a ‘remarkable rebound’ is expected this year, the central bank (CB) chief said on Tuesday, adding that the current accommodative monetary stance is sufficient for a revival in growth.
“The worst is behind us. The recovery phase has begun,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno told the Reuters Next conference, citing ‘green shoots’ such as improvements in remittances and foreign direct investments.
By Reuters Staff
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MANILA, Jan 6 (Reuters) - The Philippines’ electricity grid operator is looking into conducting an initial public offering (IPO) to comply with regulatory requirements, its spokeswoman said on Wednesday, in what could be one of the country’s largest public share sales.
The National Grid Corp of the Philippines (NGCP), partly owned by China State Grid Corp, was originally required by a 2008 law covering its franchise terms to sell at least 20% of its shares to the public within 10 years.
“We were previously advised that market conditions may not be ideal at the moment, but we continue to take steps to prepare for an eventual IPO,” NGCP spokeswoman Cynthia Alabanza said in a text message.