PHILIPPINES

The Senate has enforced a gag order in Vice President Sara Duterte's impeachment trial, restricting public statements. Her legal team plans to comply, while procedural challenges arise with witness testimonies.

The Philippines endures severe flooding due to Tropical Depression Pilandok, intensifying the monsoon. The economic impact includes agricultural losses and inflation concerns, with government preparedness under scrutiny.

Three consecutive rate hikes have not stopped the slide. MUFG says the peso and Thai baht are being punished for energy exposure while Korea and Taiwan gain on the AI cycle.

The Philippines' economy struggles with a 2.3% GDP growth in Q2 2026, impacted by Middle East energy shocks, inflation, and structural vulnerabilities, posing challenges for future growth targets.