BSP: Strong peso affecting economy

Posted at 02/14/2013 12:36 AM

Bangko Sentral Deputy Governor Diwa Guinigundo says some of the effects of the rising peso are the "thorns in the beautiful economic picture." Finance Secretary Cesar Purisima, who has already put off a dollar bond sale, says the government needs to work with the BSP to manage dollar inflows in part by encouraging infrastructure projects and direct investments that will create demand for dollars. - ANC, Business Nightly, February 13, 2013