Photoblog: The Philippines’ resurrection
Through Holy Week, the massive exodus out of Metro Manila left streets eerily abandoned. Yet while this hive of humanity was temporarily tempered, the Philippines continued to go through its own economic resurrection.
In the week leading up to Easter Sunday, the Philippines finally achieved what prospective foreign investors have been waiting for: investment credit rating status. On March 27, Fitch branded the Philippines with a hard-earned BB+ rating, tacitly rewarding Philippine President Benigno Aquino III for bringing the country back to life after lagging its regional peers for decades.
An apt barometer of eponymous Aquinomic policies, the Philippine Stock Exchange is testing the unprecedented 7,000 mark following the upgrade to investment status and besting previous predictions by stock analysts that have been forecasting an anticipated correction.
While the PSE was hitting its next all-time high of 6,847.47, Justin Calderon, our research analyst, went to Cutud in Pampanga, one hour northeast of Metro Manila, to see the reenactment of the crucifixion of Jesus, including penitents that flagellate themselves to become relieved of their sins.
In this content, one is reminded of the deteriorating state the Philippines had to go through to remerge, unyielding and alive, deflecting the barbed assaults of its critics.
Below a photoblog from the Good Friday rituals reenacted in Pampanga on March 29 (Click on the images to enlarge).
Through Holy Week, the massive exodus out of Metro Manila left streets eerily abandoned. Yet while this hive of humanity was temporarily tempered, the Philippines continued to go through its own economic resurrection. In the week leading up to Easter Sunday, the Philippines finally achieved what prospective foreign investors have been waiting for: investment credit rating status. On March 27, Fitch branded the Philippines with a hard-earned BB+ rating, tacitly rewarding Philippine President Benigno Aquino III for bringing the country back to life after lagging its regional peers for decades. An apt barometer of eponymous Aquinomic policies, the Philippine Stock...
Through Holy Week, the massive exodus out of Metro Manila left streets eerily abandoned. Yet while this hive of humanity was temporarily tempered, the Philippines continued to go through its own economic resurrection.
In the week leading up to Easter Sunday, the Philippines finally achieved what prospective foreign investors have been waiting for: investment credit rating status. On March 27, Fitch branded the Philippines with a hard-earned BB+ rating, tacitly rewarding Philippine President Benigno Aquino III for bringing the country back to life after lagging its regional peers for decades.
An apt barometer of eponymous Aquinomic policies, the Philippine Stock Exchange is testing the unprecedented 7,000 mark following the upgrade to investment status and besting previous predictions by stock analysts that have been forecasting an anticipated correction.
While the PSE was hitting its next all-time high of 6,847.47, Justin Calderon, our research analyst, went to Cutud in Pampanga, one hour northeast of Metro Manila, to see the reenactment of the crucifixion of Jesus, including penitents that flagellate themselves to become relieved of their sins.
In this content, one is reminded of the deteriorating state the Philippines had to go through to remerge, unyielding and alive, deflecting the barbed assaults of its critics.
Below a photoblog from the Good Friday rituals reenacted in Pampanga on March 29 (Click on the images to enlarge).
