PESONet transactions up 48.1% to ₧2.9T ‘Close borders, cut Omicron exposure risk’ By Bianca Cuaresma By Cai U. Ordinario @BcuaresmaBM
clearing house under the National the payees earlier,” the BSP said. their System. loved ones, while which, sheGovernor said, the economy can no Retailwith Payment It can be for- Then BSP Benjamin @caiordinario eigners living in temperate regions longer afford. considered as an electronic alternative Diokno earlier said the MBS will usually want relax in tropical not only “It is betterfor that we dovolume protective HE Bangko Sentral ng Pilipinas to paper-based checkto payments. allow more LOSING the borders In January countriesthis likeyear, the Philippines. preventive measures than (BSP) reported a country’s big jump the BSP and This clearances, it will also help in get the exis one oftransactions, the most immediatethe Philippine year’s influx of OFWs is expected to risk posed again. We a lot to lose,” in PESONet Payments Management, management ofhave participating of action the be heavier since many them Oplas said. “We should do it now so following thecourses implementation of governa Inc. (PPMI) launched the of MBS to were banks. ment must take to prevent the latunable to come home for the holidays that we can open just before Christmultiple batch settlement (MBS) increase the frequency of PESONet “PESONet MBS allows for better est Covid-19 variant, Omicron, from in December 2020. mas. If it gets contained, we can open facility for the electronic funds settlements from once to twice a day. risk management for participating reaching Philippine shores, accord“My recommendation is to protect it again.” transfer service. Settlements are done at 10 AM and 4 banks and electronic money issuers local economists. borders. Do not allow people with as settlement Ateneo of Center for Economic Overing theto weekend, the BSP said the PM onthe weekdays. transactions mayReT he new var iant is a threat, a history of travel to countries with search and Development (ACERD) total value of PESONet transactions “The PESONet MBS increased the be divided within two cycles in a s p48.1 e c i apercent l l y w ittoh reach t he P2.9 hol id ay sfrequency positive enter,” Oplas Associate Ser Percival jumpedeby by cases whichtopayments are said. banking day,” Director said Diokno, who up and “Webyshould be more restrictive. K. Peña-Reyes said closing trillion coming in the first half more of the foreigners year. received beneficiaries, allowing [We has since been appointed Financethe being a llowed to processed travel to thefor faster have clearing to be] more protective in terms secretary. country’s borders would be effecThe number of transactions and settlement Philippines, De La Sa lle Univerof our measures.” tive but should still adhere to the during the period also increased by of personal transactions. The former governor also said the sit y economist Mar ia Ella Oplas Oplas said that while this will be standards set by the World Health 28.7 percent, to a total of 40.8 million T h i s e n h a n c e m e nt r e du c e d morning and end-of-day settlement told BusinessMirror. a setback some (WHO). transactions. production cycleto time andindustries, improved this cyclesOrganization of PESONet fund transfers aims The holidays usually bring in is a fair measure considering that What is needed, Peña-Reyes told Launched in November 2017, business productivity as funds are to address the business community’s Overseas Filipino Workers (OFWs) this could help prevent placing the this newspaper, is for restricPESONet is the first automated received by and made available to demand for shorter clearingtravel intervals who are eager to spend Christmas country in another strict lockdown, tions to be put in place swiftly and
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TH! N? EXPLAINER »B4
THE METAVERSE ISN’T HERE YET BUT IT ALREADY HAS A LONG HISTORY
to better manage cash flows. for government be proactive “For example, atobusiness can in imposing them. ensure timely crediting of payroll instances the funds Previous since PESONet MBSwhen allows the opportunity to imthe country transferhad of funds and the receipt posesame travelby restrictions didwithin not preof the employees vent the spread of Covid-19. That was the same banking day. Since funds mainly because the decision was are made available earlier, PESONetnot made he said. MBS can immediately, cut production cycle time “Kung papatay patay [If we’re that boosts economic productivity,” slow] and we get caught flat-footDiokno added. ed, [that’s We were Follow ing risky] the release oftoo thereactive proactive before. latest datainstead on the of value and volume We shouldtransactions, learn from that,” Peñaof PESONet the BSP Reyes said. “It’s a delicate balancing said the MBS supports their goals act. We need to push testing of and of digitizing at least 50 percent tracing to be properly informed total retail payments in the country, our decisions. Blanket/shotgun andofonboarding at least 70 percent approaches could conseof Filipino adults intohave the dire financial quences on the economy.” system by 2023. See “Omicron,” A2
NATL GOVT BORROWINGS DTI TO INCLUDE SUGAR FOR 10 MOS DIP TO P2.75T IN PRICE MONITORING w w
Monday, November 29, 2022 2021 Vol. Vol.1717No. No.52 Monday, August 22, 318
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P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||
By Bernadette D. Nicolas @BNicolasBM By Andrea E. San Juan
Omicron risk spurs revival of quarantine rules in PHL
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HE national UGAR will be included in the government’s products that the Department gross of Trade borrowings as ofand Industry is monitoring, as directed by President end-October shrank by almost 6 percent Ferdinand R. Marcos Jr., the DTI said year-on-year to at the weekend.
By Samuel P. Medenilla @sam_medenilla
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P2.75 trillion.
“Sugar will be included in our regular inBureau the coming Latestmonitoring data from the of the days as directed by the President,” Treasury showed that the governTrade Ana Carolina ment’sUndersecretary gross borrowings during the P. Sanchezperiod told reporters viapercent Viber, 10-month fell by 5.99 without elaborating. from P2.92 trillion a year ago. Sanchez however, With onlysaid, two months leftthat for the department willisprovide thisTrade year, the latest figure already more information “this coming equivalent to 89.6 percent of its week.” P3.07-trillion borrowing program. Broken down,the gross domestic borCurrently, Trade undersecrerowings January October tary said,from based on theto Price Act, settled at P2.23 trillion, down by 5.08 percent from P2.35 trillion in 2020. The bulk of the amount was sourced from Fixed Rate Treasury Bonds (P1.19 trillion), followed by short-term from BangByborrowings Cai U. Ordinario ko Sentral ng Pilipinas or BSP (P540 @caiordinario billion), Retail Treasury Bonds/Premyo BondsY(P463.3 the timebillion), a workerRetail ends Onshore Dollar Bonds (P80.84 his lunch break, somebil87 lion). In the samehave period, there was babies been born, 34 alsocouples a net redemption of Treasury tied the knot, and 54 BillsFilipinos amounting to P43.94 died, based onbillion. the latNet debtreleased redemption est data by the means Philipthere were more debts repaid(PSA). compine Statistics Authority pared to the amount borrowed dur-a The PSA said there were ing the period. total of 250,866 Filipinos born; Meanwhile, gross foreign bor100,171 marriages occurred; rowings in the same period also and 157,507 died between Janucontracted by 9.7 percent to P518.7 ary and April 2022. billion from last year’s billion. The number ofP574.4 Filipinos born This was raised in the first fivethrough months global of the bonds billion), year(P146.17 contracted 34.7program percent loans (P139.98 billion), euro-decompared to 384,154 in the nominated bondsof (P121.97 billion), same period 2021; the numa project (P86.41 billion), and ber ofloan those who married also yen-denominated samurai bonds (P24.19 billion).
the Department of Agriculture (DA) is the implementing agency monitoring prices of sugar—along with other goods such as rice, corn, cooking oil, fresh and dried fish, and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, and root crops. These fall under the Basic Necessities. See “DTI,” A2
‘VITAL EVENTS’ IN PINOY LIVES, AS TRACKED BY STATS AGENCY
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See “Borrowings,” A2
PEOPLE walk past the mural of Gat Andres Bonifacio atKADAYAWAN Manila City Hall Underpass. TIME Participants at Davao City’s Kadayawan street dance and floral float The country will celebrate the 158th birth anniversaryparade of Filipino showrevolutionary off their talent at the competition that put the southern city on the tourism DOMINGO hero Gat Andres Bonifacio on Tuesday, November 30. ROY map, and declared to the world it is open again for business. At least 43 companies, local
contracted 13.9 percent from 116,373 last year; and the number of those who died contracted 34.4 percent from 240,240 in 2021. “The data on the number of By Jasper Emmanuel Y. Arcalas births, marriages, and deaths @jearcalas (vital events) presented in this regular monthly release were ORE 3 million obtained from the than vital events coconut farmers registered, either timely or be- and workers are now latedly, at the appropriate Of-registered with the government’s fice of the City/Municipal Civil registry, which servesthe ascounthe basis Registrar throughout for the number of people try and subsequently submittedto be for covered encodingby tothe the utilization Office of theof the P75-billion coconutthrough levy fund. Civil Registrar General PhilippineStatistical Coconut Authority the Provincial Of(PCA) Deputy Administrator fices (PSOs) of the PSA,” PSA Roel M. Rosales said about 3.11 million explained. coconut farmers andA2farm workSee “Vital events,” ers have been registered with the government since it started up-
governments, business and private organizations put up 43 flower and fruit-decked floats of varying sizes to summarize what the Kadayawan festival is all about: the fruit harvest festival. Kadayawan also honors the 11 indigenous and Moro tribes in the city for protecting the bounty of nature, as seen in its sought-after fruits durian, lanzones, rambutan and mangosteen and the iconic Waling-Waling orchids. MANUEL T. CAYON
OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND
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dating its registry following the enactment of the Coconut Farmers and Industry Trust Fund law. Rosales explained that about 500,000 coconut farmers and workers added to the PCA’s By Joveewere Marie N. dela Cruz 2018 list that had about 2.5 million @joveemarie coconut farmers and farm workers. The next is to conHEPCA’s House of step Representaducttives an exclusion-inclusion prohas vowed to swiftcedure by making updated ly approve thetheproposed farmers’ registry public,recovery providP5.268-trillion economic ing everyone the opportunity to budget of the Marcos administracheck the veracity of the list, Rotion while giving all lawmakers salestoadded. time scrutinize the national “The will be posted in public budget forlist 2023. spaces where people can easily see
them. This allows everyone to see who are listed in the registry and if farmer doesn’t see his name then he shall coordinate with the PCA immediately,” he explained at a recent dialogue with coconut The House is set tofarmers. receive on “On the other if people Monday (today) thehand, proposed 2023 would see names on the national budget, which list the and Dethey thinkofthey are and not Managecoconut partment Budget farmers or their details are incorment (DBM) earlier revealed would rect, they report it to the PCA amount tocan P5.268 trillion. forThe immediate action,” hefor added. proposed budget next The PCA official noted that year is P244 billion or almost completion the initial list 5the percent more of than this year’s of coconut farmers registry would P5.024-trillion outlay. It will be be just in time forspending the expected the highest ever prorollout of coconut levy-funded
programs as President Duterte is expected to sign the industry development plan in early 2022. Rosales said the PCA will not stop updating its list of coconut farmers them to regposal ofand theenjoined government. isterThe in order to reap the benefits proposal would be the offirst the full decades-long idled coconut one-year outlay of Preslevy fund. “Weina willnd not“Bongbong” stop at 3.1 ident Ferd million. We hope that more indiMarcos Jr. viduals register in our coconut On will hand to receive it will be farmers said. Speakerregistry,” Martin G.he Romualdez, MaThe updating of the coconut jority Leader Manuel Jose “Manfarmers registry is mandated by nix” Dalipe, Minority Leader MarRepublic Act (RA) 11524 or the celino Libanan, House Committee Coconut Industry Trust Fund Act. on Appropriations chairman and
NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government to reimpose mandatory facility-based quarantine for all arriving passengers in the country. Acting Presidential spokesperson Karlo B. Nograles announced on Sunday that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) suspended the implementation of its Resolution No. 150A (s.2021), effectively imposing stricter protocols for all inbound travelers. To note, IATF Resolution 150A had allowed fully vaccinated non-visa travelers from Green List areas to enter the country without the need for facility-based quarantine as long as they secure negative Reverse TranscriptionPolymerase Chain Reaction (RTPCR) test within 72 hours prior to their departure. “Except for countries classified as ‘Red,’ the testing and quarantine protocols for all inbound international travelers in all ports of entry shall comply with the testing and quarantine protocols forZaldy ‘Yellow’ Ako Bicol Party-list Rep. Co list countries,” Nograles said, citing and his senior vice chairperson, the provision IATF Resolution Marikina City of Rep. Stella Luz A. No. 151-A. Quimbo. He noted Kong,has which has The HouseHong leadership vowed confirmed a case ofand the Omicron to finish committee plenary devariant, willon also underproposal the Yelliberations thefall budget low listOctober countries. before 1, when Congress is The suspension rules for scheduled to go on of itsthe first recess “Green List” countries will be that will last up to November 6. in effect fromSee November 28, 2021 to “House,” A4 December 15, 2021.
House vows timely okay of ₧5.268-T budget for ’23
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See “3-M farmers,” A2
Continued on A2
PESO EXCHANGE RATES n US 55.8560 n JAPAN 0.4111 n UK 66.6474 n HK 7.1211 n CHINA 8.2299 n SINGAPORE 40.3089 n AUSTRALIA 38.6133 n EU 56.3587 n KOREA 0.0421 n SAUDI ARABIA 14.8731 Source: BSP (August 19, 2022) PESO EXCHANGE RATES n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021)