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The country had weathered the first global oil crisis, in 1973, but by 1979 the commodities boom which had propped up its economy in the early 1970s had died down, leaving the Philippines much more vulnerable [1] - so much so that in the third quarter of 1981, the Philippine economy followed the course of the US economy when it went into recession.
This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were: taken over or merged with another financial ...
During the 2008 global financial crisis, the BSE SENSEX experienced a sharp decline. It dropped from over 21,000 points in January 2008 to below 8,000 points in October 2008. [153] October 8, 2008: The Indonesian stock market halted trading after a 10% drop in one day. [154]
The global economic crisis of 2008 pulled countries around the globe into a recession. Following the Asian economic crisis in 1997, the 2008 crisis imposed new challenges to the Philippines as a developing country.
The economy grew amidst the two severe global oil shocks following the 1973 oil crisis and 1979 energy crisis – oil price was $3 / barrel in 1973 and $39.5 in 1979, or a growth of 1200% which drove inflation. Despite the 1984–1985 recession, GDP on a per capita basis more than tripled from $175.9 in 1965 to $565.8 in 1985 at the end of ...
Global stock market crash that was caused by an economic crisis in Asia. 1998 Russian financial crisis: 17 Aug 1998 Russia: The Russian government devalues the ruble, defaults on domestic debt, and declares a moratorium on payment to foreign creditors. Dot-com bubble: 10 Mar 2000 USA: Collapse of a technology bubble.
The Philippines faced six back to back typhoons in just 23 days last month, an unprecedented onslaught of storms that scientists say were fueled by unusually hot oceans and higher air humidity ...
1997 Asian financial crisis; 2022–2023 Philippine onion crisis; A. ... 1969 Philippine balance of payments crisis; Economic history of the Philippines (1965–1986)