Sherwin Gatchalian has urged politicians and the public to tone down political rhetoric as tensions start affecting the economy and investor confidence.
Gatchalian said the peso’s drop to a record low of P61.721 against the US dollar shows the impact of political uncertainty on financial markets.
He said analysts are now pointing to an “uncertainty premium” tied to political tensions, which is hurting investor confidence.
The senator also warned that a weaker peso could worsen inflation by raising the cost of imported goods, including fuel and rice.
“We cannot allow this to continue. The country’s economic growth and the welfare of our people are at stake,” added Gatchalian.IMT
