Duterte to investors: Lumayas kayo, I'll deal with China, Russia instead
President Rodrigo Duterte on Thursday told foreign investors to leave if they want to, and he'll deal with China and Russia instead.
This is after Standard and Poor's, a debt-watcher, warned that his methods on his drug war raised questions on the predictability of the country's economic policies.
Duterte said that he does not care about credit rating agencies.
The US-based S&P maintained its investment grade ratings on the Philippines’ sovereign debt but warned that an upgrade in the next two years was “unlikely.”
“Tapos sabihin nitong mga BB plus, credit. Wala akong pakialam sa inyo [And they raise this BB plus, credit. I don’t care about you],” he said.
"And I would say, the ratings sa (in the) business economy, eh 'di so be it, lumayas kayo (then so be it, leave our country). Then we can start on our own. I can go to China, I can go to Russia. I have a talk with them. They are waiting for me, so what the hell?" he added.
An investment grade rating means the country can sell government securities to a wider pool of investors, giving it a better shot at raising funds for sorely-needed development projects. MJM
This is after Standard and Poor's, a debt-watcher, warned that his methods on his drug war raised questions on the predictability of the country's economic policies.
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| Photo by Rappler |
The US-based S&P maintained its investment grade ratings on the Philippines’ sovereign debt but warned that an upgrade in the next two years was “unlikely.”
“Tapos sabihin nitong mga BB plus, credit. Wala akong pakialam sa inyo [And they raise this BB plus, credit. I don’t care about you],” he said.
"And I would say, the ratings sa (in the) business economy, eh 'di so be it, lumayas kayo (then so be it, leave our country). Then we can start on our own. I can go to China, I can go to Russia. I have a talk with them. They are waiting for me, so what the hell?" he added.
An investment grade rating means the country can sell government securities to a wider pool of investors, giving it a better shot at raising funds for sorely-needed development projects. MJM
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Duterte to investors: Lumayas kayo, I'll deal with China, Russia instead
Reviewed by Kristian S.
on
23 September
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Reviewed by Kristian S.
on
23 September
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