Staff writer
For nearly six years since President Fidel V. Ramos took office, the Philippine economy has shown remarkable growth. That achievement, however, is now in doubt as the nation suffers from major currency crises spreading across Southeast Asia.
But Cesar Bautista, trade and industry secretary of the Philippines, asserts that despite currency jitters and stock falls, the economic fundamentals of the country remain strong. "The currency problem, which started in Thailand, is very bad and it affected everybody in the neighborhood," Bautista said in an interview with The Japan Times. He was visiting Japan to attend the two-day Asia-Europe Meeting of economic ministers held in Makuhari, Chiba Prefecture, last weekend.