Moody's changes outlook on Philippines from stable to positive

Via Moody's:
Moody's Investors Service has today changed the outlook on the Government of the Philippines' Ba3 foreign and local-currency bond ratings to positive from stable.

The key drivers for the decision are:
(1) the strengthening trend in the Philippines's external payments position which has significantly reduced the vulnerability of government finances to external shocks;
(2) the successful conduct of monetary policy which has anchored inflation expectations and has also helped to lower the government's cost of funding; and
(3) improved prospects for economic reform policies which will likely have positive effects on government finances, investor sentiment, and economic growth.


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