The increased use of digital payments brought about by COVID-19 could fuel a rise in digital lending in the current decade as companies accumulate consumer data and enhance credit analytics. This in turn presents new and complex trade-offs between financial stability, competition and data protection; thereby, warranting new regulatory frameworks and novel ways of monitoring.
While global headwinds continued to challenge economies around the world home-grown sources of resilience enabled the Philippine economy to grow with a 6.5% increase in GDP in the first nine months in 2012. This surpassed growth projections and earned for the country the distinction of posting one of the fastest growth rates in Asia.