Philippines’ Misery Index inches up in 2025
The Misery Index, first introduced in the 1960s by economist Arthur Okun, was a simple gauge of economic pain: inflation plus unemployment rates. Over time, the measure has evolved. Johns Hopkins University economics professor Steve H. Hanke’s version — known as the Hanke’s Annual Misery Index (HAMI) — adds more nuance by giving double weight to joblessness, factoring in inflation and bank lending rates, and subtracting real per-capita gross domestic product (GDP) growth. For the Philippines, the pandemic year of 2020 marked the peak of economic distress. More recently, the index ticked higher: it rose to 14.4% in 2025 from 14.0% the year before, driven by jobless rate climbing to a two-year high while the real per-capita GDP growth slowed to its weakest pace in five years.
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Nubank Vice-Chairman Roberto Campos Neto said the bank will test stablecoin credit card payments, as adoption of stablecoins accelerates across Latin America. Nubank, Latin America’s largest digital bank, is reportedly planning to integrate dollar-pegged stablecoins and credit cards for payments.The move was disclosed by the bank’s vice-chairman and former governor of Brazil’s central bank, Roberto Campos Neto. Speaking at the Meridian 2025 event on Wednesday, he highlighted the importance of blockchain technology in connecting digital assets with the traditional banking system. According to local media reports, Campos Neto said Nubank intends to begin testing stablecoin payments with its credit cards as part of a broader effort to link digital assets with banking services.Read more
