Manila, Oct. 23 -- The Philippines will remain highly resilient to external shocks despite heightened uncertainties stemming from changes in United States tariff policies, the Japan Credit Rating Agency Ltd. (JCR) said.

In its latest report, JCR cited the country's resilience to external shocks, supported by accumulated foreign exchange reserves.

"Given its solid foreign currency liquidity position, JCR believes that the Philippines will remain highly resilient to external shocks despite increased uncertainties caused by changes in the US tariff policies," JCR said.

As of end-September 2026, the country's foreign exchange reserves were at USD99.5 billion, enough to cover 6.2 months' worth of imports of goods and payments of services a...