Bear Stearns & Co. Inc. Retains Positive Economic Outlook on Philippines
US-BASED investment bank Bear Stearns & Co. Inc. has retained its positive outlook on the Philippines despite recent political turmoil, projecting that the economy will even grow at a faster rate of 5.8 percent this year. Last year, the economy grew 5.1 percent.
In a paper on its assessment of the country, the investment bank said the ability of the Gloria Macapagal-Arroyo administration to weather political problems, including so-called coup attempts, gave the institution reason to believe that the economy was not in danger.
"One important reason (why a segment of the Philipp…