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                    [ArticleID] => 479933
                    [Title] => World Bank: RP headed for outright recession
                    [Summary] => 
The World Bank (WB) expects the Philippines to hit “outright recession” this year with domestic production declining by half a percent before recovering to a 2.4-percent growth in 2010 and 4.5 percent in 2011.
                    [DatePublished] => 2009-06-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 246929
                    [Title] => WB laments RP banks’ failure to dispose of NPAs
                    [Summary] => Despite the passage of the special purpose vehicle (SPV) law in early 2003, the anticipated disposal of the non-performing assets (NPAs) of the country’s banking system was unsuccessful, according to the World Bank. 


"The enactment of the special purpose vehicle (SPV) law in January 2003 has not speeded up resolution of the NPAs, as anticipated," the World Bank said in its Global Development Finance 2004. 


No major transactions have taken place even though a few SPVs have been approved and some others are under discussion.


                    [DatePublished] => 2004-04-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

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                    [ArticleID] => 202077
                    [Title] => OFW remittances now more important than private loans — World Bank report
                    [Summary] => Overseas Filipino workers (OFWs) have become a very important source of finance for the Philippines, even more important than private lending. 


According to a World Bank report, remittances are a more stable source of external finance than debt as the former tend to be counter-cyclical, thus serving as buffer from other financial shocks since economic downturns encourage additional workers to go abroad. Likewise, those already abroad could increase the amount of money they send to families left behind, the report noted.


                    [DatePublished] => 2003-04-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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GLOBAL DEVELOPMENT FINANCE

Array
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    [results] => Array
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                    [ArticleID] => 479933
                    [Title] => World Bank: RP headed for outright recession
                    [Summary] => 
The World Bank (WB) expects the Philippines to hit “outright recession” this year with domestic production declining by half a percent before recovering to a 2.4-percent growth in 2010 and 4.5 percent in 2011.
                    [DatePublished] => 2009-06-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Headlines
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                    [URL] => 
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                    [ArticleID] => 246929
                    [Title] => WB laments RP banks’ failure to dispose of NPAs
                    [Summary] => Despite the passage of the special purpose vehicle (SPV) law in early 2003, the anticipated disposal of the non-performing assets (NPAs) of the country’s banking system was unsuccessful, according to the World Bank. 


"The enactment of the special purpose vehicle (SPV) law in January 2003 has not speeded up resolution of the NPAs, as anticipated," the World Bank said in its Global Development Finance 2004. 


No major transactions have taken place even though a few SPVs have been approved and some others are under discussion.


                    [DatePublished] => 2004-04-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

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                (
                    [ArticleID] => 202077
                    [Title] => OFW remittances now more important than private loans — World Bank report
                    [Summary] => Overseas Filipino workers (OFWs) have become a very important source of finance for the Philippines, even more important than private lending. 


According to a World Bank report, remittances are a more stable source of external finance than debt as the former tend to be counter-cyclical, thus serving as buffer from other financial shocks since economic downturns encourage additional workers to go abroad. Likewise, those already abroad could increase the amount of money they send to families left behind, the report noted.


                    [DatePublished] => 2003-04-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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)

abtest

World Bank: RP headed for outright recession

By Des Ferriols | June 23, 2009 - 12:00am

The World Bank (WB) expects the Philippines to hit “outright recession” this year with domestic production declining by half a percent before recovering to a 2.4-percent growth in 2010 and 4.5 percent...

Headlines

WB laments RP banks’ failure to dispose of NPAs

By Ted P. Torres | April 20, 2004 - 12:00am

Despite the passage of the special purpose vehicle (SPV) law in early 2003, the anticipated disposal of the non-performing assets (NPAs) of the country’s banking system was unsuccessful, according to the World...

Banking

OFW remittances now more important than private loans — World Bank report

By Ted P. Torres | April 9, 2003 - 12:00am

Overseas Filipino workers (OFWs) have become a very important source of finance for the Philippines, even more important than private lending. According to a World Bank report, remittances are a more stable source...

Business