The Philippine banking system could face risks from the real estate sector this year, S&P Global Ratings warned on Wednesday as the coronavirus crisis continues to deepen economic uncertainty.
In a report, the New York-based debt watcher said uncertainty about the evolving pandemic and its economic impact remained high and “risks related to [coronavirus] vaccine distribution and a spike in Covid-19 cases remain acute for emerging markets, and this may delay the economic rebound and increase risks for their banking systems.”
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