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The Makati-Taguig skyline in this photo taken on April 12, 2024.   Gigie Cruz, ABS-CBN News

Article (news)

PH ECONOMY

Jekki Pascual

ABS-CBN News

MANILA — Global bank Citi is optimistic about growth in the Philippines despite external issues and the ongoing impeachment process of Vice President Sara Duterte at the Senate.Citi Philippines CEO Paul Favila said there will always be political noise in many countries, but it didn&#x27;t negatively impact the economies of those nations. Similarly, he said he thinks the impeachment hearings won&#x27;t have a negative impact on the country&#x27;s economy.He said he met with global investors who are not turned off by the political noise in the Philippines.&quot;What you guys are going through politically is no different from what we see everywhere around, especially in Asia,&quot; Favila said on what others are saying.He added, &quot;Politics is politics, lives in its own realm.&quot;Citi Philippines Head of Markets Wilmer Bautista also said that investors do notice political happenings, but focus more on how the government is beefing up various sectors of the economy. &quot;They do look at it, but I think the underlying story is really what’s going on in the economy and how we are managing that,&quot; Bautista said.Favila is confident of continued growth for the country&#x27;s economy amid the political noise and geopolitical risks. He said global investors continue to look at the Philippines. &quot;The investor reception, notwithstanding the fact that the world was still in disarray, was very strong. The last bond issue, early June, the republic was able to issue a 2 and a half billion dollar bond,&quot; he said.He also mentioned of the importance of the Philippines to Citi. The global headquarters recently hosted a Philippine investor roundtable in New York City. Finance Secretary Frederick Go, National Treasurer Sharon Almanza, Bangko Sentral ng Pilipinas Deputy Governor Zeno Abenoja, Philippine Consul General Senen Mangalile, and other senior officials joined and talked about the country’s economic outlook and investment opportunities.&quot;Personally, I am not in any way feeling pessimistic about the prospects of this country,&quot; he added.The bank reiterated its commitment to the Philippines, where it has been operating for nearly 125 years.

Global bank Citi is optimistic about growth in the Philippines despite external issues and the ongoing impeachment process of Vice President Sara Duterte at the Senate.

Global bank Citi is optimistic about growth in the Philippines despite external issues and the ongoing impeachment process of Vice President Sara Duterte at the Senate.

Citi sees PH growth amid political noise, geopolitical risks

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Citi sees PH growth amid political noise, geopolitical risks

Jekki Pascual,

ABS-CBN News

Published July 21, 2026 06:48 PM PHT

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