Politics
Marcos Criticized for 'Don't Panic' Remark Amid Peso Depreciation
Amid the Philippine peso's continued depreciation, reaching a new low against the US dollar, President Ferdinand Marcos Jr.'s call for the public 'not to panic' has drawn sharp criticism from a progressive coalition, which accused the administration of lacking concrete plans to address the worsening economic crisis.
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- Philippines to Defend Peso 'As Hard As We Possibly Can,' Marcos Says
Philippine President Ferdinand Marcos Jr. stated that authorities will defend the local currency, the peso, "as hard as we possibly can" against further declines against the US dollar. This comes amid a broader trend of Asian currencies weakening.