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Philippines: Sovereign wealth fund benefits cited

Posted on 25 April 2013

“The sovereign wealth fund is definitely a mechanism that can break the link between these huge inflows and the exchange rate,” IMF Senior Economist Jaime Guajardo said in an interview last week.
The Philippines has been buoyed by robust BPO earnings that hit $13 billion last year, up by 18.18%. Overseas remittances totalling $21.391 billion, up 6.3% from 2011 and breaching the Bangko Sentral ng Pilipinas’ (BSP) 5% growth target, also provided a boost………………………………………..Full Article: Source


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