Economy

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Ex-President and current Pampanga Rep. Gloria Macapagal-Arroyo.

 

WASHINGTON — The Philippines slipped six places to 115 in the latest index of economic rankings of 179 countries around the world.

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The International Monetary Fund said it expects that growth in the Philippines will average 7 percent in 2010 and 5 percent in 2011.

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MANILA — London-based think-tank Capital Economics Ltd. sees the peso strengthening to 39 to $1 by the end of next year as Asian currencies are expected to appreciate further against the greenback.

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President Benigno Aquino III (l.) with predecessor Gloria Macapagal-Arroyo during his inauguration as 15th president of the Philippines.

MANILA — The public is expected to monitor the wealth of President Benigno Aquino III considering that his predecessor, former President and now Pampanga Rep. Gloria Macapagal-Arroyo, had earned as much as P76 million during her nine years at Malacañang.

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