James McCormack Quotes

While the e-VAT and the impeachment issue have both been resolved favorably in recent days, we are maintaining our negative outlook on the Philippines' ratings.

- James McCormack

Tags

Impeachment | Issue | Resolved | Favorably | Days |

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This will allow the government debt/GDP ratio to continue its downward trajectory, alleviating pressure on sovereign credit worthiness as debt ratios gradually compare more favorably with rating peer group medians. - James McCormack

The entire episode really damaged fiscal policy credibility in the Philippines. - James McCormack

The continuing strength of China's external sector, including the increase in its foreign exchange reserves and exports, are a positive. However, an increase in reserves which we expect to eventually reach a trillion US dollars, will not necessarily lead to a ratings upgrade. - James McCormack