-Philippines facing tough financial choices.
Global Banking News - 14 March 2013
The Bangko Sentral ng Pilipinas(BSP) is facing a tough choice as it has run out of cash to fund market interventions.
The central bank has already spent large amounts to shield its currency and economy from the impact of inflow of foreign money and is now left with empty coffers.
Among the options available is letting the peso appreciate. While being the easiest option, it is also not desirable because of the advantage of easy policies and weak currencies held by major economies such as Japan and Britain, according to a Reuters report.
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