Corruption obstructs Philippines investment grade rating

Commentators believe that the Philippines is unlikely to gain further ratings upgrades to reach investment grade without greatly improving a tax collection system prone to abuse.

  • 06 Jul 2012

Opinion is divided over whether the Philippines deserves to be upgraded to investment grade level, but observers agree that the country is unlikely to enjoy further rating upgrades until it demonstrably reforms a tax system that is both inefficient and prone to corruption.

Standard and Poor’s (S&P) announced ...

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