The Philippines has struggled amid the recent emerging market sell-off, but the nation’s strong fundamentals should lead investors to single it out again soon, its central bank told CNBC.
Steep selloffs in the Argentine peso, South African rand and Turkish lira in January triggered a bout of emerging market weakness which spread like wildfire. No emerging market has been safe; even the Philippines which has long been praised for its strong economic growth and well-managed finances has taken a hit.
Asked when investors would wake up to the fact that the Philippines is different to other, weaker emerging markets, Amando M Tetangco, Jr, Governor of the Philippines central bank – Bangko Sentral ng Pilipinas (BSP) – told CNBC Asia’s Squawk Box on Friday this would happen soon.
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