End April 2018 reserves dip by $400 million

 

By Rose de la Cruz

 

The end April 2018 Gross International Reserves of the country dipped by $400 million, which the Bangko Sentral ng Pilipinas called “marginally” from $80.5 billion to $80.1 billion.

 

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. announced that at this level, the GIR nonetheless serves as an ample external liquidity buffer and is equivalent to 7.8 months' worth of imports of goods and payments of services and primary income.

 

It is also equivalent to 5.5 times the country's short-term external debt based on original maturity and…

Read more: End April 2018 reserves dip by $400 million

Govt told to give Build Build Build projects to returning OFWs

 

 

By Rose de la Cruz

 

Rep. Bernadette Herrera-Dy of Bagong Henerasyon partylist has asked the government to give the Build Build Build projects to returning, jobless overseas Filipino workers (OFW) and to pay them rates that they get from the Middle East, not just Philippine compensation and benefits levels.

 

In a statement, she said, there are 11 million unemployed Filipinos.  “In a news report, it was said that Build Build Build program needs 3.9 million skilled, construction workers. In another report, it was said that the government intends to hire low-skilled workers from China for China-financed…

Read more: Govt told to give Build Build Build projects to returning OFWs

Reclamation in lieu of clean-up: Shrinking Manila Bay

 

By Fernan J. Angeles 

ASIDE from its alarmingly critical pollution level, the world famous Manila Bay, known for its wonderful sunset, may have to suffer another setback as the government gave the greenlight for another reclamation – this time involving 2,500 hectares, where a publicly-listed corporation intends to put up an international airport.

Interestingly, Manila Bay, which covers around 199, 400  hectares, is supposed to undergo a major ‘overhaul’ after the Supreme Court on Dec. 18, 2008 issued a writ of continuing mandamus directing 13 government agencies to clean up, rehabilitate and preserve Manila Bay. They were given 10…

Read more: Reclamation in lieu of clean-up: Shrinking Manila Bay

Pernia asks ADB's help in population management

 

 

By Rose de la Cruz

 

While thanking the Asian Development Bank for all its development work in the Philippines, Socioeconomic Planning Secretary Ernesto Pernia asked the bank’s help in population management, narrowing the infrastructure gap, improving the quality of higher education and healthcare and promoting science and technology and innovation.

 

Pernia spoke at the 51st ADB annual meeting at its Manila headquarters Thursday where he also recommended that other development areas that are important to the region and the Philippines such as macroeconomic stability through surveillance to mitigate the potential buildup of economic and financial stresses.…

Read more: Pernia asks ADB's help in population management

 Inflation exceeds govt. targets in April

 

By Rose de la Cruz


 While average inflation already exceeded the government’s target as of April 2018, the surge is seen as temporary and would normalize towards the end of the year, according to the National Economic and Development Authority.

 

The Philippines Statistics Authority reported that headline inflation accelerated to 4.5 percent in April 2018, higher than the 4.3 percent recorded in the preceding month and the 3.2 percent in April 2017.

 

This brings the year-to-date average to 4.1 percent, slightly above the full-year target of 2 to 4 percent. Nevertheless, the inflation outturn…

Read more: Inflation exceeds govt. targets in April

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