Investment grade optimism collides head on with the daily commute along EDSA

Good news for the economy, no comment yet from EDSA

The Philippines has earned a double vote of confidence from global rating agencies, signalling more investments and jobs ahead, according to The Manila Times’ coverage of the ratings announcement. Analysts abroad see a strengthening economy. Commuters along EDSA, meanwhile, see the exact same three lanes of traffic they saw yesterday, rating agencies notwithstanding.

The optimism gap

Investment grade upgrades tend to look wonderful in a spreadsheet and considerably less wonderful from inside a jeepney stuck at the Guadalupe overpass for the fortieth consecutive minute. Economists insist the two realities will eventually converge, a claim commuters have heard before.

Officials celebrate cautiously

Government economic managers welcomed the upgrade as validation of recent fiscal reforms, while acknowledging that translating investor confidence into everyday improvements takes considerably longer than issuing a press release, per additional reporting from the Philippine Star.

Fazit

Great news for the balance sheet, no immediate relief for the commute. SOURCE: https://www.manilatimes.net/ For more British satire on a related theme, see The London Prat’s African Parks Removes Prince Harry From Board.