PHILIPPINES MAY FACE 'DEEP SACRRING ' FROM PANDEMIC

  • 23/07/2021

The Philippines may face “deep scarring” or long-lasting economic losses due to the prolonged pandemic, Moody’s Investors Service said on Friday.  “Many have been challenged to contain the pandemic, such as Peru, the Philippines  and India, heightening uncertainties around the effective reopening of their economies amid new waves of the virus since the start of the year,” it said in a note. Coronavirus disease 2019 (COVID-19) infections on Friday rose by 6,845  to bring the active cases to 55,069, the Health department reported.  


Moody’s warned that emerging markets with low vaccination rates are the most vulnerable given the possibility of renewed infection surges. 
Data from the Johns Hopkins University showed that vaccine doses administered in the Philippines reached 15.616 million, although only 5.031 million have received two jabs. This means only 4.65% of the population has been fully vaccinated against COVID-19 so far. The government eyes to vaccinate as many as 70 million Filipinos by end-November, focusing on risky areas where infections are relatively higher. 

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