Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Wednesday, 20 February 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << February 2019 >> 
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2008/10/10

PGMA cites opportunities created by US financial crisis to banking sector

Manila (10 October) -- President Gloria Macapagal-Arroyo told agri-business groups to take advantage of the many opportunities offered by "our strong banking sector" to maintain the momentum gained from a robust business atmosphere far removed from the volatility of the global markets.

"This is the time for agribusiness to exploit the financial liquidity of our strong banking sector to expand your role in your respective niche markets," the President said in her speech keynoting Agrilink, Foodlink, Aqualink 2008 held at the World Trade Center in Pasay City.

"We encourage continued activity by the agriculture, food and aquaculture business groups. This also means the government continues to promote privatization including the Food Terminal, Inc. as a counterpoint for our own pump-priming," she added.

The President pointed out that despite the adverse effects of the US financial meltdown on other countries' economies, its impact on the Philippine banking sector is minimal.

"The potential exposure of our banking sector to the asset deflation triggered by the subprime mortgage losses in the U.S. accounts for less than one percent of their total system assets here in the Philippines," the President said.

"This exposure is fully reserved, our banks are well-capitalized, and the innate conservativism of our bankers is matched by the prudence of our regulators," she added. (PIA-MMIO) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»Jobs fair set at Davao Trade Expo 2008
»We don't prohibit use of school buildings as evacuation centers - Sec Lapus
»Moral recovery tops new PNP chief's priorities
»Ermita bares fresh oil extract from Galoc oil field off Palawan
»PGMA speaks before world's big business leaders in Makati
»PGMA conducts surprise inspection of two Metro Manila groceries
»PGMA cites opportunities created by US financial crisis to banking sector
»President Gloria Macapagal-Arroyo's Speech during the Opening Ceremonies of the Agrilink/Foodlink/Aqualink 2008
»Passage of JPEPA will open new markets for RP agri-business sector, says PGMA
»LGUs commit to contribute to RP's competitiveness
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines