Philippines.

• Position: Update - Brief Article

The Philippine Central Bank has cut its 2003 export growth forecast, despite imports--an indicator of future overseas sales--showing signs of picking up. Central Bank Governor Rafael Buenaventura said exports this year would probably rise three per cent, down from a previous projection of five per cent. Imports in July rose 1.3 per cent from a year earlier after falling 3.3 per cent the previous month, the Government...