PHILIPPINES
Analyst
Diwa Guinigundo
Former Central Bank Deputy GovernorDatabanks
Recent Country Insights
RP–China dispute on the West Philippine Sea: the fourth crack between Marcos and Duterte
PHILIPPINES · Report · 18 Feb 2026
The collapse of the UniTeam alliance between President Ferdinand Marcos Jr. and Vice President Sara Duterte has unfolded through a series of political fractures — from disagreements over international legal cooperation, to constitutional reform maneuvering, to impeachment battles. Yet these earli...
Impeaching the nation’s two highest officials: accountability, dynastic competition and the governance stakes for the Philippines
PHILIPPINES · Report · 11 Feb 2026
The simultaneous impeachment controversies involving the Philippine President and Vice President reflect more than constitutional procedure — they reveal a struggle over succession, institutional credibility, and democratic maturity. While impeachment is designed to enforce accountability, its de...
Policy response to slumping business sentiment
PHILIPPINES · In Brief · 19 Jan 2026
Amid declining confidence in the business community—reflected in various opinion polls following the flood control scandals—the Philippine government’s economic managers convened around 300 top business leaders on Friday, January 16, 2026. The meeting sought to reassure investors of the governmen...
October FDI Inflows Signal Heightened Policy and Governance Risks
PHILIPPINES · In Brief · 13 Jan 2026
Foreign direct investment (FDI) net inflows to the Philippines declined by 40 percent year on year in October 2025, falling to USD 642 million from USD 1.1 billion in October 2024. While inflows were higher than in the preceding three months, suggesting some short-term stabilization, the annual c...
Growth slowdown exposes labor market vulnerabilities
PHILIPPINES · Report · 13 Jan 2026
The November 2025 Labor Force Survey points to increasing labor market vulnerability amid slowing economic growth. Unemployment rose to 4.4 percent from 3.2 percent a year earlier, employment growth weakened, labor force participation declined, and underemployment remained elevated—signaling not ...
IMF on the Philippines: Cautious Optimism, Hard Constraints
PHILIPPINES · In Brief · 30 Dec 2025
The International Monetary Fund (IMF) completed its Article IV mission to the Philippines from mid-September to 1 October 2025, with the Executive Board concluding the consultation on 24 November 2025. The staff report, released on 15 December with the consent of Philippine authorities, reflects ...
Why the BSP may need to pause further monetary easing
PHILIPPINES · Report · 22 Dec 2025
The BSP cut policy rates in December 2025 as inflation fell well below target, creating room for easing. However, Governor Eli Remolona has since clarified that further rate cuts are not assured and will depend on incoming data, financial stability risks, and market confidence. While economic ...
The Trillion Peso March: mass action, political maneuvering, and the imperative of evidence-based unity
PHILIPPINES · Report · 12 Dec 2025
The Philippines is experiencing a surge of public mobilization against corruption, especially over alleged irregularities in flood control projects. While many rallies have focused on institutional reform and evidence-based accountability, a recent event pushing for President Marcos’s resignation...
Losing confidence, losing steam
PHILIPPINES · Report · 12 Nov 2025
The Philippine economy slowed sharply in the third quarter of 2025, expanding only 4.0% year-on-year—the weakest growth since 2011 outside the pandemic years—due to weak industrial performance, falling investment, and eroding business confidence amid governance scandals. Services remained the mai...