Philippines 'not particularly vulnerable' to China slowdown: Fitch


Posted at Aug 22 2019 09:58 AM | Updated as of Aug 22 2019 02:05 PM

Philippines 'not particularly vulnerable' to China slowdown: Fitch 1
The skyline of the central business district is seen in the morning in Beijing, China August 21, 2019. Reuters/Stringer

MANILA – The Philippines is "not particularly vulnerable" to the fallout from a slowing in Chinese economy, unlike its neighbors, a Fitch Rating credit officer said Thursday.

Singapore, Hong Kong, Taiwan and South Korea might see "ripple effects" due to their debt exposure to China, said Dan Martin, regional credit officer at Fitch Ratings' Credit Policy Group.

The Philippine economy "doesn’t come out as a model that is particularly vulnerable to China’s slowdown. And on the market side, they’re not reliant on capital inflows and they don’t do as much lending and foreign currency," Martin told ANC.

Sri Lanka and Indonesia might be affected due to their foreign currency denominated borrowings, he said.

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