cesar purisima is finance minister of the philippines and is joining us on the phone from prague.ct celebrations at home? >> actually, we're quite pleased that the credit rating agencies have finally affirmed what the market has been saying for a long time. as you know, the market rate is too much above the investment grade, but we consider this as a non-market treatment of the situation and confirms our focus on good government. >> at the same time, though, there are pleasannty of hurdles guess, towards the kinds of development that would launch the philippines into the more developed economy ranks of the world. for example, infrastructure, for example, inflation. in your view, what are some of the biggest challenges you still face? >> well, we need to continue to focus on the things we can control, which is the fundamentals of the philippine economy. so, we need to continue to invest in infrastructure, and that's one of our big priorities. we need to continue to create fiscal space so we can invest in our people, our biggest asset. and we need to continue to open up our economy