2006-09-11 16:03:18 · 6 answers · asked by Eduardo F 1 in Politics & Government ➔ Government
My overly simplified answer:
The current Philippine government is focused on improving local infrastructure to the point where it artificially depreciates the peso as an incentive to attract foreign investments. We're trying to play catch up with our ASEAN neighbors so we're agreeing to a lot of sweetheart deals. It makes this administration look like they're doing something for the economy.
We're way too reliant on dollar remittances from OCWs and not focusing enough on agriculture and sustainable development which would reduce imports and promote exports. Once we're exporting more than we're importing, then our currency will appreciate on its own without depending on seasonal remittances from Filipinos abroad.
2006-09-11 16:34:45 · answer #1 · answered by spindoccc 4 · 0⤊ 0⤋
the philippine peso depreciates due to many factors, but the number one reason is graft and corruption if only the leaders of the country are self actualized and concerned for the common good philippines could be the america of asia
it has lots of resources
it has great people
only we have a terrible system
2006-09-11 16:05:44 · answer #2 · answered by haringmarumo 6 · 1⤊ 2⤋
Money depreciates because it is over supplied. Print it fast = devalue it faster.
Inflation throughout the world is a result of Fiat currencies being over-supplied. (A Fiat currency is money that is not backed by anything tangible i.e. it is just paper and ink)
2006-09-11 16:07:10 · answer #3 · answered by Bring back Democracy 3 · 1⤊ 0⤋
right now it's apreciating, they do it to punish the foreign remittence payers
2006-09-11 16:05:59 · answer #4 · answered by acid tongue 7 · 0⤊ 0⤋
Your President would know the answer.
2006-09-11 16:04:41 · answer #5 · answered by Muffin 4 · 0⤊ 1⤋
does he depreciate?
2006-09-11 16:03:57 · answer #6 · answered by Anonymous · 0⤊ 1⤋