aint a bad place

LONDON-BASED credit rating firm Fitch Ratings said Thursday it had revised its ratings outlook on the Philippines to "stable" from "negative" following the enactment of several tax measures aimed at reducing the government's budget deficit

THE WORLD Bank announced Thursday that a new three-year assistance plan for the Philippines worth two billion dollars would finance high-quality programs planned by the government, marking a significant change in the way it supports middle-income countries.

Previously, the World Bank funded specific projects that were separate from the government's own programs and priorities.



"The bank's strategy is to help the government deliver better social and infrastructure services," said Joachim von Amsberg, World Bank country director for the Philippines.

"By aligning our support with national budget priorities, as outlined in the Medium-Term Philippines Development Plan, we hope to achieve greater impact," he said.

Von Amsberg said he congratulated President Gloria Macapagal-Arroyo and Congress for the passage of a value-added tax law that that he said would make a big contribution to the country's fiscal turnaround if it is fully and effectively implemented


Light at the end of the tunnel,stay the course.
please do your own research.