Former BSP official says arrest of ex. Pres. Duterte has impact on PH financial markets

PTVPhilippines

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Transcript

00:00The arrest of former Philippine President Rodrigo Duterte may have unsettled financial

00:05markets but has assured long-term benefits for the country.

00:09Former Banco Central ng Pilipinas or BSP Governor Diwa Ginegundo acknowledged short-term volatility

00:15but argued that upholding the rule of law strengthens investor confidence.

00:19The Philippine Stock Exchange Index dropped close to 2.5 percent on the day of Duterte's

00:24arrest with a peso weakening to 57.36 pesos against the dollar.

00:29Ginegundo warned the mass protests could further destabilize markets and urged the

00:34government to put a handle on potential unrest.

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