SUMMARY
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The slowdown of the global economy and the aftermath of the anticipated unwinding of the US Federal Reserve’s stimulus program are threats to economic stability, a Philippine central bank official conceded. The Fed’s plan has sent the peso and local stock market plunging during the past weeks. The country also faces challenges from slower global economic growth. While it “is not yet in safe waters,” economic planners hope that the Philippines’ strong fundamentals will help cushion the impact of the current market turmoil, Bangko Sentral ng Pilipinas deputy governor Diwa Gunigundo said.
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