Philippines Country. Office. Asian Development Bank. “ The Status of the Philippine Economy” by Günter Hecker. January, 2001. What you hear about the Philippines in the news lately…. Corruption and cronyism are at a high point Governance low Administration not functioning
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Exchange Rate Index(weekly average, last week of June 1997 = 100, $/local currency)…..rates moved together with the other comparator currencies
As of Dec 2000
Total: $ 12.9 B
Total $ 12.9b
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