The slight rejection on the three-month bills shows that government has an improved cash position.
More Quotes from Jonathan Ravelas:
The strong remittances and additional government spending this year should help mitigate the adverse impact of additional taxes and high oil prices on consumer spending.Jonathan Ravelas
We are seeing the government's commitment to solve its fiscal problems more aggressively. That will translate to more investments.
Jonathan Ravelas
Because of the commitment to bring down the budget gap, investors are now rewarding the government through fresh foreign direct and portfolio investments.
Jonathan Ravelas
It is a calibrated and preemptive response to rising inflation. They are more concerned with containing inflation pressures arising from higher value-added tax and crude oil prices.
Jonathan Ravelas
This is good news but we can't say at this point that a recovery is now underway. We want to see first how exports will perform in the next two to three months before we can make any conclusion.
Jonathan Ravelas
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