Recto: Corruption probe stalls Philippines trek to ‘A’ rating
MANILA, Philippines – The high-profile corruption scandal involving state-funded flood control projects has disrupted the Philippines’ bid for an “A” credit rating this year.
Finance Secretary Ralph Recto warned that the fallout from the scandal could negatively impact economic growth and put pressure on the government’s fiscal position.
Speaking to reporters on Tuesday, Recto highlighted concerns based on recent discussions with financial experts and rating agencies.
https://business.inquirer.net/552596/recto-corruption-probe-stalls-ph-trek-to-a-rating
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