Economics
Philippine Officials Seek to Soothe Investors Spooked by Duterte
- Take out the noise, look at fundamentals, Tetangco says
- Foreigners sold local stocks for 21 days, longest since 2007
QuickTake: Philippines' Splintered Democracy
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Philippine central bank Governor Amando Tetangco sought to soothe investors spooked by President Rodrigo Duterte’s rhetoric around his anti-drug war, with stocks poised for the longest outflow since 2007.
“If you take out the noise and look at the fundamentals, look at the economic program, look at the quality of the members appointed to the economic team, then these are all solid,” Tetangco told bankers, traders and fund managers late Thursday in Manila.