James McCormack
James McCormack
James McCormack, Jr.was a United States Army officer who served in World War II, and was later the first Director of Military Applications of the United States Atomic Energy Commission...
bit cautious delays increase learned might political potential primarily risks
We are a bit cautious about the two-percentage-point increase because of the risks - primarily political risks - that it might not be implemented. One thing we learned from this is that there is always a potential for delays in its implementation." ()
backdrop favorable less political recently
Asia's political backdrop has recently become less favorable for growth." ()
political tolerance
We are still comfortable. In a BB range, we do have some tolerance for political noise." ()
both issue negative outlook recent resolved
While the e-VAT and the impeachment issue have both been resolved favorably in recent days, we are maintaining our negative outlook on the Philippines' ratings." ()
case expect happens negative outlook retain revert whether
What would be under consideration is what to do with the negative outlook - whether to revert that back to stable, or to retain the negative outlook, or to downgrade the credit. But upgrading (the rating) from a negative outlook is not something that happens very frequently, and I don't expect that would happen in the case of the Philippines." ()
debt effective goes government interest issues rate service takes
So if the effective interest rate on Philippines government debt goes up, it just takes more of their revenues to service their debts, so these are issues that really do need to be addressed." ()
country politics
The Philippines is one country where politics matter." ()
downward emerging forecast further growth midst political rates sovereigns turmoil weakest
Those sovereigns in the midst of political turmoil also have the weakest growth rates in emerging Asia, and further downward revisions to the growth forecast may be necessary." ()
asia consumer expect half housing market maybe second slow starting turning
We are starting to see maybe a turning in the housing market in the US. And if the US consumer retracts a little, we would expect to slow down in the US in the second half of the year. That translates into a slowdown in Asia as well." ()
along bank biggest central challenge control inflation potential
The biggest challenge for the central bank is to control the potential inflation that comes along with the buildup in reserves." ()
growing money question supply
There is a question about how long you can do that, but it is not as if money supply is growing too fast." ()
concerned effect finances fiscal might outlook performance political politics public structure
There are two things that we're still concerned about. One is the structure of public finances notwithstanding the fiscal performance in 2005 and two is the political outlook and the effect that politics might have on public finance." ()
based consumer economy export fast forecast growth korean looks numbers percent recovery revised sector skeptical strong
We were always skeptical about how fast consumer recovery (would) be. It had been pretty slow. This year, we've revised our growth forecast for the Korean economy to 5 percent based on strong fourth-quarter numbers that we saw, particularly in consumption. The export sector still looks positive." ()
credit domestic growth product
When you've got credit growth that already exceeds (gross domestic product growth), that's a lot of new credit." ()