Economy

Current State of the Philippine Economy
The Philippine Peso Recovers Loss from Effects of Cyprus Bailout Fears

21 Mar: The Philippine Peso Recovers Loss from Effects of Cyprus Bailout Fears

On Monday, March 18, 2013, it was reported that the Philippine Peso weakened as an effect of the announced radical bailout plan on Cyprus. While it seems unlikely that an event this far from the Philippines should affect it economically, it seems that investors have shied away from risky assets and investments because of the possible fallout from this move in Cyprus.