By Aaron Michael C. Sy, Reporter
THE PHILIPPINE peso’s steady decline against the dollar — an almost two-year record low — is no longer a black-and-white case of exporters and other dollar earners winning and heavy corporate borrowers losing big time.
The same can be said about the Bangko Sentral ng Pilipinas’ (BSP) steady march toward monetary easing in the coming months for the first time since November 2020, which begs the question of who will win and who will lose once the rate cuts are finally delivered.
Take the case of Mega Prime Foods, Inc., a leading brand of sardines and other canned fish products that is now forced to manage costs and investments more intensely because its packaging, raw materials, finished goods and other key capital expenditures are foreign currency denominated.
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