Roubini and PH credit upgrade: Predictions come true

Nouriel Roubini, a world renowned economist, praised the news that the Philippines has achieved an investment grade status, which he had predicted and supported. Dubbed Dr. Doom for predicting hard times before the financial crisis began in 2008, Roubini said on his Twitter account that the Fitch Ratings’ upgrade of Philippines’ credit rating was “well deserved.” He said something similar when his prediction about Indonesia’s credit upgrade came true. In his Project Syndicate article, he stressed that the Philippines, Indonesia and Malaysia, as well as Chile, Colombo, Peru and other emerging economies may do better than the “over-hyped” BRIC economies of Brazil, Russia, India and China in the next decade.

Read more on Rappler and Project Syndicate