LAST week, Standard & Poor’s

LAST week, Standard & Poor’s Global Ratings issued a much less than encouraging evaluation of the Philippines’ sovereign credit score score reputation, pronouncing that whilst there was no reason to reduce the u . S .’s ‘BBB’ long-term rating and ‘strong’ outlook, there has been little hazard of an upgrade in the subsequent two years.

President Rodrigo Duterte replied to the perceived grievance in his commonly charming manner, saying in effect that it matters not a whit to him what S&P or another ratings enterprise thinks, he can always do commercial enterprise with Russia or China.

S&P’s situation, as they described it is that the violence of the anti-drug marketing campaign, and implicitly, Duterte’s hard-hewn manner in drawing near almost any issue, “When combined with the President’s policy pronouncements someplace else on foreign coverage and countrywide safety, we accept as true with that the steadiness and predictability of policymaking has faded extremely,” and that “rising strain on the Philippines’ institutional and governance settings has the capability to abate the potential to expand and put into effect rapid coverage responses.”