By Katherine K. Chan, Reporter
THE PHILIPPINES faces credit risks as the widening conflict in the Middle East, especially if prolonged, could strain the country’s oil imports, overseas Filipinos’ remittances, and the peso, Fitch Ratings said.
In a commentary posted on Saturday, the debt watcher said emerging markets including the Philippines could see a “substantial impact” on their credit rating if the Strait of Hormuz remains closed for over a month.
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