Tycoon Manuel V. Pangilinan, who leads one of the biggest conglomerates in the country, warns of the adverse impact of the corruption scandal on the Philippine economy and credit ratings.
Speaking at the 57th FINEX annual conference, he said that, because of this corruption scandal, “government spending can be reduced, which could slow growth,” while “investor confidence could be affected, perhaps even credit ratings—if the institutional responses are reg
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