End-Sept PHL debt hits record-high ₧13.52T ‘CloseMarcos borders, cut Omicron exposure risk’ wants to ‘reintroduce’ Philippines THE AP INTERVIEW
By By Cai Cai U. U. Ordinario Ordinario @caiordinario @caiordinario
with with their their loved loved ones, ones, while while forforwhich, she she said, said, the the economy economy can no amounting for for government government to to be be proactive proactive in in By Jasper Emmanuel Y. Arcalas Bureau which, of the Treasury (BTr) said incan a no to P352.09 billion and the By By Ted Ted Anthony Anthony Marcos, Marcos, swept swept into intoThursday. office office this this spring, spring, is is Marcos, Marcos, 65, 65, sat satthem. for for aa wide-ranging wide-ranging interintereigners eigners living living in in temperate temperate regions regions longer longer afford. afford. imposing imposing them. @jearcalas statement on P5.18 billion impact of local currency
The The Associated Associated Press Press want already drawing drawing distinctions distinctions both both subtle view in in New New York Yorkagainst on on the the sidelines sidelines of of the thethe UN UN usually usually want to to relax relax in inalready tropical tropical “It “It is is better better that that we wesubtle do do protective protective Previous Previous instances instances when the “At the current level, [national gov- view depreciation the USwhen dollar,” it and and obvious obvious between between himself himself and and his his voluble voluble General General Assembly’s Assembly’s annual annual leaders’ leaders’ meetmeetLOSING LOSINGthe thecountry’s country’sborders borders HE countries countries like like the the Philippines. Philippines. This This preventive preventive measures measures than than get get exexcountry country had had the the opportunity opportunity to to imimPhi l ippines’s outstandernment] debt has increased by P1.79 explained. EW EW YORK—Looking YORK—Looking to to “reintropredecessor, predecessor, Rodrigo Duterte, Duterte, who who alienated alienated ing. ing. Three Three months months into his his administration, administration, is is one one of of the the most most immediate immediate year’s year’sas influx influx of of OFWs OFWs is is expected expected to to Rodrigo posed posed again. again. We We have have aaend-Delot lot to to lose,” lose,” pose pose travel travel into restrictions restrictions did did not prepreing debt of “reintroend-September trillion or 15.2 [percent] since The Treasury noted that thenot Philipduce duce the the Philippines” Philippines” to to the the world, world, many many international international partners partners with with his his vioviohe he seemed seemed energetic energetic and and enthusiastic—and enthusiastic—and courses courses of of action action the the governgovern- zoomed be be heavier heavier since sincerecord many many of of them them were were Oplas said. said. “We “We should should do do itit now now so so pinevent vent the the spread spread of ofCovid-19. Covid-19. That Thatwas was to a fresh high cember Oplas 2021,” it added. The country’s peso has depreciated against the new new President Ferdinand Ferdinand Marcos Marcos Jr. Jr.for lent lent approach approach to to fighting fighting drug trafficking trafficking eager eager todollar project project his his vision vision for the the nation nation bebement ment must must take take to to prevent prevent the the latlatunable unableto toovershooting come come home home forthe the holidays holidays that that we we can canindrug open open just just before before ChristChristmainly mainly because because the thefor decision decision was was not not ofPresident P13.52 trillion, the outstanding debt end-August stood USto from P56.171 in end-August has has ambitious ambitious plans plans for for his his nation nation on on the the ininand and the the coarse coarse rhetoric rhetoric he he used used to to galvanize galvanize yond yond its its borders. borders. est estCovid-19 Covid-19variant, variant,Omicron, Omicron, from from government’s in in December Decemberprojected 2020. 2020. mas. mas. If Ifititgets getscontained, contained,we wecan canopen open to P58.646 made made immediately, immediately, he he said. said. national debt at P13.02 trillion. in end-September. ternational ternational stage stagethis and and year at at home—if, home—if, that that is, is, is supporters. On On The Thursday, Thursday, he he met met with with US US President President reaching reaching Philippine Philippine shores, shores, accordaccord“My “My recommendation recommendation issupporters. to toprotect protect The Treasury itit again.” again.” said about two-thirds “Kung “Kung papatay papatay patay patay [If [Ifprojecwe’re we’re stock amid the continuous national government’s the the twin twin specters specters of of pandemic pandemic and and climate climate Asked Asked if if Duterte Duterte went went too too far far with with his his Joe Joe Biden Biden in in a a bid bid to to strengthen strengthen the the somesomeing ing to to local local economists. economists. the thethe borders. borders. Donot notallow allowpeople peoplewith with Ateneo Ateneo Center Center for for Economic Economic ReRe- tionsslow] slow] and we we get get caught caught flat-footflat-footweakening of peso. Do of the national government’s outstandfor itsand outstanding debt was pegged change change be beThe overcome overcome or at atoutstanding least least managed. lethal lethalwith drug drug crackdown, crackdown, Marcos Marcos redirected redirected times times complicated ties ties that that have have ebbed ebbed and and TThe he new new var variant iant is is acan acan threat, threat, aaor history history of ofmanaged. travel travelobligation to to countries countries with search search and Development Development (ACERD) (ACERD) ed, ed, [that’s [that’s risky] risky] We We were were too rerecountry’s ing debt wereand domestic borrowings at acomplicated foreign exchange rate range oftoo P52 to And if if he he can can surmount surmount the the legacies legacies of of the the criticism criticism toward toward those those who who carried carried out out flowed flowed between between the the two two nations nations since since the eessppeecciiaallllyy w wit ithh ttAnd he he hol hol id id ay ay s s positive positive cases cases to to enter,” enter,” Oplas Oplas said. said. Associate Associate Director Director Ser Ser Percival Percival active active instead instead of of proactive proactive before. before. has overshot the national government's while the remaining obligations were P55, based on budget documents. the two two people: people: his his predecessor, predecessor, and and his his father. father. the the plan. plan. Philippines Philippines spent spent four four decades decades as as an an AmeriAmericoming coming up up and and more more foreigners foreigners “We “We should should be beof more more restrictive. restrictive. [We [We K. Peña-Reyes Peña-Reyes said said closing closing the the We We should should learn learn from from that,” that,” PeñaPeñaprojected debt stock level P13.43 trilsourcedK. externally. “Since the beginning of the year, the He He also also wants wants to to strengthen strengthen ties ties with with “His “His people people went went too too far far sometimes,” sometimes,” can can colony colony in in the the early early 20th 20th century. century. being being aallowed llowed to to travel travel to to the have haveofto tothis be] be] more more protective in in terms terms The Treasury country’s country’s borders borders would would be be effeceffec- domestic Reyes Reyesdebt said. said.“It’s “It’saadelicate delicate balancing lionthe by the end year. protective said that domestic debt portfolio has balancing increased both both the United States States and China—a China—a delicate delicategovernMarcos Marcosstood told told The The Associated Associated Press Press on on Friday. Friday. “There have been been bits and and pieces pieces where where Philippines, Philippines, De De La La Sa Sathe lle lle United UniverUniverof of our our measures.” measures.” tive but but should should still still adhere adhere to to the the “There act. act.have We We need needbits to to push push testing testing and and “For theand month, [national at tive P9.3 trillion, which was P357.27 by P1.13 trillion or 13.8 percent due balancing balancing act act for for the the Southeast Southeast Asian Asian nation nation “We “We have have seen seen many many cases cases where where policemen, policemen, they they were were not not perhaps perhaps ideal,” ideal,” Marcos Marcos said. said. sit sityy economist economist Mar Maria ia Ella Ella ment’s] Oplas Oplas total debt Oplas Oplas said said that that while this this will willbillion be be standards standards set by by the the World World Health Health to continued tracing tracing to topreference be be properly properly informed increased bywhile P495.54 or 4 percentset higher than its endfor informed domestic —and, —and, like likebillion many many of of his fellow leaders leaders at at the theindustries, other otherthis operatives, operatives, some somewere werejust just shady shadycharchar“But “Butfinancing in in of the theour end, end, that that overall overall trajectory trajectory has has told told BusinessMirror. BusinessMirror. aafellow setback setback to to some some industries, this Organization (WHO). (WHO). of our decisions. decisions. Blanket/shotgun Blanket/shotgun orhis 3.8 percent primarily due to August Organization level. to mitigate the effects of curUnited United Nations Nations this this week, week, called called on on the the councounacters acters that that we we didn’t didn’t quite quite know know where where they they been been to to strengthen strengthen and and strengthen strengthen and and The The holidays usually bring bring in is is aa fair fairagainst measure measure considering that that “For September, What What is is needed, needed, Peña-Reyes Peña-Reyes told rency approaches approaches could could have have dire dire conseconsepesoin depreciation theconsidering US dolthe increase intold fluctuations,” the Treasury said. IT’S IN THE AIR! SM Southmall hails the holidays in a ceremonial tree-lighting of The Happiness Factory with Las holidays Piñas Chief usually PRESIDENT PRESIDENTFerdinand FerdinandMarcos MarcosJr. Jr.speaks speaksduring duringan aninterview interviewwith withThe TheAssociated AssociatedPress, Press,Friday, Friday,September September 23, 23,2022, 2022, in in tries tries that thathave have caused caused global warming warming togovernment help help placing came came from from and andthis who who they they were were working working for. for.restricstrengthen strengthen our our relationship.” relationship.” Overseas Overseas Filipino Filipino Workers (OFWs) (OFWs) this thisissuance could could help help prevent prevent placing the the this newspaper, newspaper, is isfrom for for travel travel restricquences quences on on the the economy.” economy.” lar and theglobal net ofto domestic debt resulted the net of Police P/Col. Jaime Santos, Parañaque City Rep. Gus Tambunting, SM Supermalls President Steven Tan, and SM Supermalls SVP for Workers Continued Continued on on A5 A5 A2 APPHOTO/JULIA PHOTO/JULIANIKHINSON NIKHINSON less less wealthy wealthy nations nations counteract counteract its itsthe effects. effects. But But now now we’ve we’ve gone gone after them.” New NewYork. York.AP who who are are eager eager to to spend spend Christmas Christmas country in in another another strict strictthe lockdown, lockdown, tions tions to to be bethem.” put put in in place place swiftly swiftly and and See “Omicron,” “Omicron,” securities tocountry support budget,” issuance of after government securities See See “End-Sept,” A2 A2 Marketing Joaquin San Agustin. SM SUPERMALLS
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BusinessMirror A broader look at today’s business
NATL GOVT BORROWINGS BSP RATE HIKE ‘SMART’ FITCH THINK TANK SEES FOR 10 MOS DIP TO P2.75T BUT TO LIMIT GROWTH RATES HITTING 5% IN ‘22 www.businessmirror.com.ph w w
By By Bernadette Bernadette D. D. Nicolas Nicolas By By Bianca Cuaresma Cuaresma @BNicolasBM ByBianca Cai@BNicolasBM U. Ordinario
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5.08 5.08 percent percent from from P2.35 P2.35 trillion trillion Authority in in 2020. 2020. In In its itsbulk assessment assessment of of local local ecoecoThe The bulk of of the the local amount amount was was (Neda) and nomic nomic dynamics, dynamics, research research firm firm sourced sourced from from Fixed Fixed Rate Rate Treasury Treasury Fitch Fitch Solutions said said on onfollowed Monday Mondayby it it economists. Bonds BondsSolutions (P1.19 (P1.19 trillion), trillion), followed by
now now expects expectsborrowings the the BSP BSP to to raise raise intershort-term short-term borrowings from frominterBangBangest est rates rates by by 75 75 more more basis basis points points ko koSentral Sentralng ngPilipinas Pilipinasor orBSP BSP(P540 (P540 before before the the year year ends, ends, effectively effectively billion), billion), Retail Retail Treasury Treasury Bonds/PreOn Thursday, BSP Bonds/PreGovernor putting putting the the benchmark benchmark at at percent percent myo myo Bonds Bonds (P463.3 (P463.3 billion), billion), Retail Retail Felipe M. Medalla said55in light by by the the end end of of 2022. 2022. Onshore Onshore Dollar Bonds (P80.84 (P80.84 bilof the 75Dollar basisBonds points (bps) bilinThis This isthe aamore more aggressive aggressive outlook outlook lion). lion). In Inis the same same period, period,rates, there there was was crease in US interest the compared compared to their theirwill earlier earlier forecast forecast also also aa net net to redemption redemption of of Treasury Treasury Monetary Board match the of of a a 4.5-percent 4.5-percent benchmark benchmark rate rateby by Bills Bills amounting amounting to P43.94 P43.94 billion. billion. policy action ofto the US Federal the the end end of of the the year. year. Net Net debt debt redemption redemption means means Reserve in its upcoming policy “Inflation “Inflation is is likely likely to to remain remain there there were were more more debts repaid repaid comcomrate setting ondebts November 17. elevated elevated relative relative to to the the BSP’s BSP’s tartarpared pared to tothe the amount amountborrowed borroweddurdur(Full story: https://businessmirror.com. get get range of of 22 percent percent to to 44 percent percent ing ingrange the the period. period. ph/2022/11/03/bsp-to-increase-interand and we we expect expect the the central central bank bank to to Meanwhile, Meanwhile, gross gross foreign foreign borborest-rates-by-75bps/) tighten tighten monetary monetary policy policy further further to to rowings rowings in in the the same same period period Secalso also Socioeconomic Planning anchor anchor inflation inflation expectations,” expectations,” contracted contracted by by 9.7 9.7M. percent percent to to P518.7 P518.7 retary Arsenio Balisacan told Fitch Fitch Solutions Solutions said. said. P574.4 billion billion from fromlast lastyear’s year’s P574.4 billion. billion. the BusinessMirror that this “The “The Philippine Philippine peso peso has has also also This This was was raised raised through through global global BSP action is necessary because come come under under significant significant pressure pressure bonds bonds (P146.17 (P146.17 billion), billion), program program not responding to the rate hike as as aathe result result of tightening tightening credit credit conconloans loans (P139.98 (P139.98 billion), billion), euro-deeuro-deof US of Federal Reserve would ditions ditions globally. globally. With With the the US US Fed Fed nominated nominated bonds bondsmore (P121.97 (P121.97 billion), billion), prove to be even detrimental likely likely to to hike hike by by a a further further 75 75 bps bps aa project project loan loan (P86.41 (P86.41 billion), billion), and and to the Philippine economy. before before end-2022, end-2022, this this will will likely likely yen-denominated yen-denominated samurai samurai bonds bonds prompt prompt the BSP BSP“BSP,” to to hike hike in tandem tandem See A2 in (P24.19 (P24.19the billion). billion). to tosafeguard safeguard external external stability,” stability,” the the See See “Borrowings,” “Borrowings,” A2 A2 think think tank tank added. added. Just Just last last week, week, the the Monetary Monetaryn Board Board decided decided to to raise raise its its interest interest rates rates by by 50 50 basis basis points. points. This This is is the the third third consecutive consecutive month month that that the the BSP BSP hiked hiked its its benchmark benchmark rates: rates: in in an an off-cycle off-cycle hike hike in in July July of of 75 75 basis basis points points and and another another in in August August of of 50 50 basis basis points. points. The TheBSP BSPalso alsosaid saidits itsaverage averageinflainflation tion forecast forecast is is now now closer closer to to 66 perpercent cent for for this this year year from from last last month’s month’s 5.4 5.4 percent percent average average to to 5.6 5.6 percent. percent.
PESO exchange rates
P25.00 P25.00nationwide nationwide| |22sections sections24 20pages pages| |7 days a week P25.00 nationwide | 2 sections 18 pages |
Omicroncuts risk ‘Karding’ INFRA IS KEY: FOOD SECURITY spurs revival big damage, DRIVES NOT JUST IN GARDENS, of quarantine but casualty rules in PHL count limited
@BcuaresmaBM @BcuaresmaBM @caiordinario
HEBangko national HE HE decision government’s Sentral ng of the gross Pilipinas borrowings as of (BSP) isBangko expected end-October shrank to continue Sentral ng raising Pilipinas by almost 6 percent monetary policy (BSP) to hike year-on-year rates thisrates year,to even interest due as the country’s P2.75 trillion. to the recent policy Central Bank has action of the US ofthe already let out Latest Latestdata data from from the theBureau Bureauof the Federal Reserve aggressive hikes Treasury Treasury showed showed that that the thein governgovernment’s ment’slast gross grossthree borrowings borrowings during during the the the months may temper 10-month 10-monthperiod periodfell fellby by5.99 5.99percent percent —as thetrillion economy from from P2.92 P2.92 trillion aa year year ago. ago. the country’s With With only only two two months months left left for for battles rising prices growth prospects, this thisyear, year,the thelatest latest figure figureis isalready already and currency equivalent equivalent to to 89.6 89.6 percent of of its its according topercent the depreciation, an P3.07-trillion P3.07-trillionborrowing borrowing program. program. Broken Broken down, down, gross gross domestic domestic borborNational Economic international think rowings rowings from from January January to to October October tank said. and settled settled Development at at P2.23 P2.23 trillion, trillion, down down by by
Monday, Vol.17 No.52 Friday,November November29,4, 2021 2022 Vol. 18 No. 23 Tuesday, September 27, 2022 Vol. 17 No. 354
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gang Pinoy seal and schoolbased nutrition programs such By By Samuel Samuel P. P. Medenilla Medenilla as supplementary feeding to @sam_medenilla attain food@sam_medenilla security. More By Bybe Samuel Samuel P. P. Medenilla Medenilla needs to done to attain food @sam_medenilla @sam_medenilla NTER NTERNATIONA NATIONALL concerns concerns security. && Rene Rene Acosta Acosta over over the the possible possible spread spread of the the “Infrastructure plays a bigof @reneacostaBM @reneacostaBM more infectious infectious Omicron Omicron Corole more in determining the cost Covid-19 vid-19 variant prompted promptedperthe the govgovof food.variant Food, especially RESIDENT RESIDENT Ferdinand Ferdinand R. ernment ernment tosensitive reimpose reimpose mandatory ishables, isto tomandatory tem- R. Marcos Marcos Jr. Jr. on on Monday Monday ininfacility-based facility-based quarantine quarantine for for all all perature and proper handling. spected from the the air airdurthe the masmasarriving passengers passengers in inthe the country. country. Ifarriving the spected food is from damaged sive sive devastation devastation caused caused by by SuperSuperActing Presidential Presidential spokesperspokespering Acting transport due to uneven typhoon typhoon “Karding” “Karding” (international (international son son Karlo Karlo B. B. Nograles Nograles announced announced roads or substandard storage name: name: Noru) Noru) across across Luzon, firing on on Sunday Sunday that that the the Luzon, Inter-Agency Inter-Agency facilities, the likelihood offiring off off directives directives to to ensure ensure a a return return to Task Taskwastage Force Force for for the the Management Management food increases. This to normalcy normalcy for for thousands thousands it it affected. affected. of of Emerging Emerging Infectious Diseases Diseases will cause foodInfectious prices to also At At the the same same time, time, however, however, he he was was (IATF) (IATF) suspended suspended the the implemenimplemenincrease,” Galang expounded pleased pleased by byits reports reports of of minimal minimal cacatation tation of of its Resolution Resolution No. No. 150150in Filipino. sualties, sualties, something something attributed attributed to to AA (s.2021), (s.2021), effectively effectively imposing imposing the the timely timely preemptive preemptive evacuation evacuation “Infra,” for A2 stricter stricterSee protocols protocols for all all inbound inbound by by local local government government units. units. travelers. travelers. Over Over the the weekend, weekend, around around To To note, note, IATF IATF Resolution Resolution 15015075,000 75,000 people people in in Luzon Luzon were were evacuevacuAA had had allowed allowed fully fully vaccinated vaccinated PEOPLE PEOPLEwalk walkpast pastthe themural muralof ofGat GatAndres AndresBonifacio Bonifacioat atManila ManilaCity CityHall HallUnderpass. Underpass. ated, ated, and andtravelers power power and and communicacommunicanon-visa non-visa travelers from from Green GreenList List The Thecountry countrywill willcelebrate celebratethe the158th 158thbirth birthanniversary anniversaryof ofFilipino Filipinorevolutionary revolutionary tion tion lines lines in in some some provinces provinces were were areas areas to to enter enter the the country country withwithPresident Ferdinand R. Marcos Jr. leads officials in showing documents they signed at Malacañang on Thursday’s (November 3, 2022) for the Metro Manila SubROYDOMINGO DOMINGO hero hero Gat GatAndres Andres Bonifacio Bonifacio on onTuesday, Tuesday, November November 30. 30. ROY disrupted. disrupted. As As of of p.m. p.m. Monday, Monday, out out the the need need for for33 facility-based facility-based way Project’s (MMSP) contract packages for Quezon Avenue and Anonas Station and Camp Aguinaldo Station. The Japan International Cooperation Agency (Jica) is however however affected affected customers customers of ofMaMaquarantine quarantine as as long long as as they they secure secure the main funder of the subway project, Metro Manila’s first. President Marcos was joined by Transportation Secretary Jaime J. Bautista, Sen. JV Ejercito, Jica Senior nila nila Electric Electric Company Company were were down down negative negative Reverse Reverse TranscriptionTranscriptionVice President Nakazawa Keiichiro and Embassy of Japan Charge d’ Affaires Matsuda Kenichi. PHOTO COURTESY OF THE EMBASSY OF JAPAN to to 32,816. 32,816. Chain Polymerase Polymerase Chain Reaction Reaction (RT(RTThe Thetest National National Grid Grid Corporation PCR) PCR) test within within 72 72 Corporation hours hours prior prior of of the the Philippines Philippines also NGCP NGCP rereto to their their departure. departure.also stored stored the the vital vital Concepcion-CaConcepcion-CaBy By Jasper Jasper Emmanuel Emmanuel Y. Y. Arcalas Arcalas dating dating its its registry registry following following the the them. them. This This allows allows everyone everyone to to see see programs programs as as President President Duterte Duterte “Except “Except for for countries countries classified classified miling miling 69kV Line. Line. and @jearcalas @jearcalas enactment enactment of of the the Coconut Coconut FarmFarmwho whoare arelisted listedin inthe theregistry registryand andifif is is expected expected to to sign sign the the industry industry as as‘Red,’ ‘Red,’69kV the thetesting testing andquarantine quarantine ers ers and and Industry Industry Trust Trust Fund Fund law. law. farmer farmerdoesn’t doesn’tsee seehis hisname namethen thenhe he development development plan plan in in early early 2022. 2022. protocols protocols for for all all inbound inbound internainternaTHIS THISisisthe theview—a view—a seemingly seemingly endless expanse expanseof ofinundated inundated towns townsand and farmlands—that farmlands—that greeted President Marcos Marcos as ashe heflew flewwith on onMonday Monday over overthe the typhoon-hit typhoon-hitRosales provinces provincesof of Bulacan, Bulacan, Nueva Ecija and Farm ORE ORE than thanendless 33 million million Rosales Rosales explained explained that that greeted about about President shall shall coordinate coordinate with the the PCA PCA imimRosales said said the the Nueva PCA PCA Ecija will willand not not tional tionaldamage travelers travelersin inall allports portsof ofentry entry INITIAL INITIAL damage damage to to testing farms farms was was Tarlac, Tarlac,among amongthose those hard hardhit hitby by Supertyphoon Supertyphoon Karding500,000 at atthe theweekend. weekend. Despite Despitethe the devastation, devastation, Marcosnoted noted that thatpreparations preparations made madeby by government, government,stop especially especially timely timelypreemptive preemptive evacuation, evacuation, coconut coconut farmers farmers and andKarding 500,000 coconut coconut farmers farmers and andMarcos mediately,” mediately,” he heexplained explained at atthe athe arecent recent stop updating updating its its list list of of coconut coconut shall shall comply comply with with the the testing and and PHOTO PHOTOCOURTESY COURTESYOF OFMALACAÑANG MALACAÑANGPALACE PALACE placed placed at at P114 P114 million, million, a a number number mitigated mitigatedKarding’s Karding’s impact. impact. Stories Stories at at left left and and in in Nation, Nation, page page A3. A3. workers workers are are now now regisregisworkers workers were were added added to to the the PCA’s PCA’s dialogue dialogue with with coconut coconut farmers. farmers. farmers farmersand andenjoined enjoinedthem themto toregregquarantine quarantine protocols protocols for for ‘Yellow’ ‘Yellow’ sure sure to toclimb climbgiven given the themassive massive devdevtered tered with with the the government’s government’s regreg- contract 2018 2018list listsigning that thathad hadof about about 2.5 million million “On the the other other hand, hand, if if30 people people ister ister in in order order to to reap reap the the benefits benefits list listcountries,” countries,” Nograles Nograles said, said,citing citing By Samuel P. Medenilla the 2.5 Contract and“On Pasay from 1 hour and minastation astation on on farms farms that that were were ready ready istry, istry, which which serves serves as as the the basis basis Package coconut coconut(CP) farmers farmers and farm farm workers. would would see names names on on the theonce list list and and of of the the decades-long decades-long idled idled coconut coconut the the provision provision of of IATF IATF Resolution Resolution @sam_medenilla 102and and CPworkers. 103 of utes to see just 35 minutes” it is for for harvest. Story on on page page A3. A3. for for the the number number of of people people to to be be the Metro The The PCA’s PCA’s next next step step is isProject to to conconthey they think thinkby they they are are not not coconut coconut levy levyfund. fund.“We “Wewill willnot notstop stopat at3.1 3.1 No. No.harvest. 151-A. 151-A. Story Manila Subway completed 2028. “Karding,” “Karding,” which which packed packed winds winds covered covered by the utilization of the the (MMSP) duct duct an aninexclusion-inclusion exclusion-inclusion proprofarmers farmers or orthanked their their details details are incorincormillion. million. We We hope hope that that more more indiindiHe He noted noted Hong Hong Kong, Kong, which which has has R E S Iby D Ethe N Tutilization F e r d i n aof nd Malacañang, Marcos Marcos the are Japan Inof of 120 120 miles miles per per hour hour at at its its peak, peak, P75-billion P75-billion coconut coconut levy levy fund. fund. cedure cedure by by making making the the updated updated rect, rect, they they can can report report it it to to the the PCA PCA viduals viduals will will register register in in our our coconut coconut confirmed confirmed a a case case of of the the Omicron Omicron “Bongbong” R. Marcos Jr. said he wants to mainstream train ternational Cooperation Agency By By Cai Cai U. U. Ordinario Ordinario the the region contracted contracted 0.8 0.8percent, percent, to to close once once more. more. Ukraine Ukraine that impacted impacted countries countries left left communities communities in inunder Luzon Luzon inuninunPhilippine Philippine Coconut Coconut Authority farmers’ farmers’ registry registry public, providprovidfor forclose immediate immediate action,” action,” he hecountry added. added. farmers farmersthat registry,” registry,” he he said. said. variant, variant, will willalso alsofall fall under the the YelYelon Thursday vowedAuthority to reuse byregion expanding thepublic, country’s rail (Jica) for providing the @caiordinario @caiordinario the the sharpest sharpest decline decline in in regional regional Asakawa Asakawa said said the the Russian Russian in in the the region region to to varying varying degrees. degrees. dated, dated, prompting prompting the the government government (PCA) Deputy Deputy Administrator Administrator Roel Roel transport ing ing everyone everyone the the opportunity opportunity to to The PCA official official noted noted that that The The updating updating of of the the coconut coconut low low list list countries. countries. duce(PCA) traffic congestion and genersystem. theThe loanPCA to finance the CP102 GDP GDP growth growth in inMMSP, 60 60 years. years. In In 2021, 2021, invasion invasion of ofwhich Ukraine Ukraine is is one one of of The The direct direct impact impact of of the the war war to to deploy deploy rescue rescue and and relief operaoperaM. Rosales Rosales said about 3.11 3.11million million check check the the veracity veracity of of the the list, list, RoRothe the CP103, completion completion of ofare the theboth initial initial list list farmers farmers registry registry is is mandated mandated by by The The suspension suspension of of relief the the rules rules for for ate M. more jobs said withabout the construcHe noted the the counand worth HE HE weakening weakening Chinese Chinese this this rebounded rebounded to to a a 6.9-percent 6.9-percent the the main main reasons reasons for for commodicommodiis is through through trade trade as as well well as as remitremittions. tions. coconut farmers and and farm farm workworksales sales added. added. of ofcoconut coconut farmersregistry registrywould would Republic Republic Act Act (RA) (RA) 11524 11524 or or the the “Green “Green List” List” countries countries will will be be in in tioncoconut of morefarmers railways during his try’s first ever subway, is one such P49 billion.farmers economy, economy, aa lethal lethal CovCovgrowth growth and this thisbe year year it itis isexpected expected ties ties to to see see high prices, while the the tances tances coming coming from from Russia. Russia. In In President President Marcos Marcos flew flew over the ers ers have have been been registered registered with with the the expansion, “The “Theand list list will will be posted posted in inpublic public be be just just in in high time timeprices, for for the thewhile expected expected Coconut Coconut Industry Industry Trust Trust Fund FundAct. Act. effect effect from from November November 28, 28,over 2021 2021the to to administration. which will help “reduce id-19 id-19 variant, variant, the the war warupin in travel to to post post aa growth growth of ofQuezon 4.3 4.3 percent. tightening tightening of of monetary monetary policy terms terms of of trade, trade, Asakawa Asakawa said said imtyphoon-hit typhoon-hit provinces provinces of Bulacan, Bulacan, Seecoconut “Signing,” A2 policy See See “3-M “3-M farmers,” farmers,” A2 A2 imgovernment government since since it started started upspaces spaces where where people people can canpercent. easily easily see see rollout rollout of of coconut levy-funded levy-funded December December 15, 15, 2021. 2021. of In his speech at the it ceremonial time between City Ukraine, Ukraine, and and the the tightening tightening of of “The “The pace pace of of recovery recovery in in the the in in advanced advanced economies economies is is causcausporters portersof offood foodand andenergy energywill willbe be Nueva Nueva Ecija, Ecija, and and Tarlac, Tarlac, and saw saw Continued Continued on on A2 A2 and monetary monetary policy policy in in rich rich nations nations various various economies economies remains remains very, very, ing ing “instability “instability in in the the financial financial significantly significantlyaffected affectedand andcausing causing inundated inundated towns towns and and farmlands. farmlands. are arethe thejapan four fourbiggest biggest risks tothe the rere- n very very uneven uneven among among7.9879 the the econoeconomarkets” markets” in the region. region. 36.9897 n EU their their import import bills bills to to0.0412 balloon. balloon. He He said said affected affected areas, areas, parUS 58.2240 n 0.3940risks n to UK 66.3346 HK 7.4176 n CHINA n singapore 41.0780in nthe australia 57.1643 n KOREA n SAUDI arabia 15.4954 Source: BSP (November 3, 2022)parn US gion’s 50.4600economy, n JAPAN 0.4374 to n UK 67.2329 n So HKwe nbear CHINA 7.9013 n SINGAPORE n AUSTRALIA 36.2807 n EU 56.5758 SAUDI 13.4531 Source: Source: BSP BSPin (November (November 26, 26,Island 2021) 2021) of gion’s economy, according according to the the mies. mies. So we6.4722 have have to to bear in in mind, mind, However, However,of of36.8968 these theserisks, risks, AsakaAsakaThe The inflation inflation pressure pressuren that that this this ARABIAticularly ticularly those those in Polillo Polillo Island of Asian Asian Development Development Bank Bank (ADB). (ADB). [there [thereare] are]four fourpossible possibledownside downside wa wasaid saidthe theRussia-Ukraine Russia-Ukraineconflict conflict creates creates leads leads countries countries to to tighten tighten Quezon—placed Quezon—placed under under Tropical Tropical In Inaacurtain curtainraiser raiserfor forthe theADB ADB risks risks to to the the economic economic outlook outlook of of poses poses the the most most significant significant risk risk to to monetary monetarypolicy. policy.The TheADB ADBrecently recently Cyclone Cyclone Wind Wind Signal Signal No. No. 55 last last Annual AnnualMeeting Meetingon onMonday, Monday,ADB ADB this this region,” region,” Asakawa Asakawa said. said. the the region. region. Still, Still, Asakawa Asakawa said said the the said saidthe theBangko BangkoSentral Sentralng ngPilipinas Pilipinas Sunday—will Sunday—willget getimmediate immediaterelief relief President President Masatsugu Masatsugu Asakawa Asakawa The The slowdow slowdownn of of China’s China’s impact impact of of remittances remittances will will be be limlim(BSP) (BSP) is is now now the the most most aggressive aggressive from from the the government. government. “Well, “Well, we we are—presently are—presently what what said said these these four four factors factors are are the the economy economy is is being being driven driven by by what what ited itedin inthe theregion regionexcept exceptfor forCentral Central in in terms terms of of raising raising interest interest rates rates to to we we are are organizing organizing is is the the airlift airlift for for dark dark clouds clouds hanging hanging over over the the Asakawa Asakawa said said was was aa “very “very strinstrinAsia, Asia,Caucasus Caucasusand andMongolia Mongoliawhich which cool coolinflation. inflation.(https://business(https://businessfood food materials, materials, food food packs, packs, water water sustained sustained recovery recovery of of the the region region gent gent zero-Covid zero-Covid policy” policy” while while have haveclose closetrade tradeand andeconomic economicties ties mirror.com.ph/2022/09/15/ mirror.com.ph/2022/09/15/ into intoPolillo Polillobecause becausethey theysaid saidit itwas was from from the the economic economic downturn downturn there there remains remains aa possibility possibility that that with with the the Russian Russian Federation. Federation. bsp-most-aggressive-in-hikingbsp-most-aggressive-in-hikingthe the first first area area to to be be hit hit [by [by SuperSupercaused caused by by the the pandemic. pandemic. aa more more lethal lethal variant variant of of Covid-19 Covid-19 There There were were both both direct direct and and policy-rates/) policy-rates/) typhoon typhoon Karding],” Karding],” Marcos Marcos said. said. Asakawa Asakawa noted noted that that in in 2020, 2020, could couldspread spreadand andcause causeeconomies economies indirect indirect effects effects of of the the war war in in See See “ADB,” “ADB,” A2 A2 H E c o u nt r y ne e d s more than urban gardens and educational campaig ns to attain food security, and infrastructure is a key factor as well, according to a researcher from the state-owned Philippine Institute for Development Studies (PIDS). PIDS Supervising Research Specialist Ivory Myka Galang said the food security plan of the Department of Agriculture (DA) is anchored on promoting home or urban gardening and developing prepackaged nutritious products. Galang also said the framework includes educational campaigns such as the Ping-
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OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND At signing of subway deals, PBBM vows to reduce traffic, create jobs M ADB TAGS 4 BIGGEST RISKS TO ASIAN ECONOMY
P T
PESO EXCHANGE RATES
See See “Fitch,” “Fitch,” A2 A2
See See “Karding,” “Karding,” A2 A2
PESO EXCHANGE RATES nn US 58.4060 58.4060 n n JAPAN 0.4104 0.4104 n n UK 65.7418 65.7418 n n HK 7.4413 7.4413 n n CHINA 8.2506 8.2506 n n SINGAPORE 41. 41.11861 861 n n AUSTRALIA 38.7933 38.7933 n n EU 57.4657 57.4657 n n KOREA KOREA 0.0415 0.0415 n n SAUDI ARABIA 15.5273 15.5273 Source: Source:BSP BSP(September (September23, 23,2022) 2022)