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DENR, LRA to combine online databases

THE Department of Environment and Natural Resources (DENR) said it will integrate its land database with that of the Land Registration Authority (LRA) to ease the underlying processes behind land transactions.

In a statement, the DENR said its Land Management Bureau (LMB) and the LRA are in the process of linking their databases using intermediary software.

The plan is to connect the LMB’s Land Administration and Management System with LRA’s Philippine Land Registration and Information System.

LMB Director Emelyne V. Talabis said the data-sharing project is in compliance with the national government’s directive to cut red tape and improve the quality of frontline services.

“The new system will relieve land title applicants from directly requesting and submitting land records from each agency as part of the verification and registration requirements,” Ms. Talabis said.

Once launched, applicants will no longer be required to personally request and submit requirements like lot status certification from the LRA as a requirement for the approval of survey plans and patent issuances by the DENR.

Geodetic engineers will also no longer need to submit a hard copy of the technical description of DENR-approved plans to LRA when registering subdivision surveys for land title certificates.

“The system will also help reduce physical contact from clients as required under the so-called ‘new normal’ brought about by the coronavirus disease 2019 (COVID-19) crisis,” Ms. Talabis said.

The LMB provides technical support for DENR field offices in land management and administration.

The LRA is an arm of the Department of Justice, which processes the registration and transfer of land titles issued via administrative and judicial proceedings. — Revin Mikhael D. Ochave

Rockets nip Thunder in Game 7

Miami Heat race to 2-0 lead over Milwaukee Bucks

HOUSTON ROCKETS GUARD JAMES HARDEN (13) passes the ball over Oklahoma City Thunder guard Luguentz Dort (5) during the second half of game seven of the first round of the 2020 NBA Playoffs at ESPN Wide World of Sports Complex. — REUTERS

JAMES HARDEN capped a miserable shooting performance with a timely defensive play, and the Houston Rockets held on for a 104-102 victory over the Oklahoma City Thunder in Game 7 of this Western Conference first-round playoff series in AdventHealth Arena at the ESPN Wide World of Sports Complex near Orlando on Wednesday.

Harden closed out on Thunder guard Luguentz Dort and recorded a blocked shot with 4.8 seconds left and Houston clinging to a one-point lead. Following a Robert Covington free throw, the Rockets blew up an inbounds play from the Thunder with 1.1 seconds left to clinch the series and set a date opposite the Los Angeles Lakers in the Western Conference Semifinals.

Game 1 of that series is set for Friday in the AdventHealth Arena.

Dort recorded a game-high 30 points on six-for-12 3-point shooting, the highest scoring total for an undrafted rookie in a Game 7. But the Rockets clamped down elsewhere defensively, forcing Thunder guard Chris Paul into six turnovers, while holding Dennis Schroder to five-of-17 shooting.

Thunder guard Shai Gilgeous-Alexander matched Paul with 19 points and hit a corner 3-pointer that gave the Thunder a 102-101 lead with 1:42 remaining. But those were the final points of the game for the Thunder, who committed 22 turnovers that Houston converted into 28 points.

Harden shot just four of 15 and had a series-low 17 points. But he added nine assists and received help from his teammates, with Covington posting 21 points, 10 rebounds, three steals, and three blocks. Eric Gordon matched Covington with 21 points while Russell Westbrook chipped in 20 points and nine boards.

Paul added 11 rebounds and 12 assists to complete a triple-double. Neither team led by more than eight points in a contest that featured 13 ties and 15 lead changes.

With Harden off to a woeful shooting start, missing 5 of 6 shot attempts, Covington, Gordon, and Westbrook carried the Rockets offensively in the first quarter by recording six points apiece. But the Thunder led by just one point entering the second quarter, despite shooting 11 of 20 from the floor by virtue of seven first-period turnovers that the Rockets converted into 10 points.

Dort caught fire in the second, pouring in a dozen points during one stretch before the Rockets wrestled away control. Gordon and Covington combined for 30 points as Houston led 61-59 at the intermission.

HEAT 2-0 EDGE ON BUCKS
Jimmy Butler made two free throws with no time remaining on the clock Wednesday night, capping a wild finish that featured two controversial calls by the referees and giving the fifth-seeded Miami Heat a second straight win over the top-seeded Milwaukee Bucks, 116-114 in Game 2 of the Eastern Conference semifinals at the Walt Disney World Complex near Orlando.

After posting a 115-104 win in Game 1, the Heat appeared to be in command Wednesday with a 113-107 advantage with less than 20 seconds to go.

Milwaukee’s Giannis Antetokounmpo then threw down a dunk, and Brook Lopez stole Butler’s inbounds pass, converting a layup that trimmed the gap to two with 8.5 seconds left.

After Butler made just one of two free throws for a 114-111 lead with 7.7 seconds left, Goran Dragic was called for a debated brush foul on a Khris Middleton 3-point attempt. When Middleton made all three of his foul shots, the game shockingly was tied with 4.3 seconds remaining.

That was enough time for Butler to benefit from a similar touch foul at the other end on a corner jumper he got off just before the horn. Antetokounmpo was whistled for putting a hand on Butler’s hip during the follow through, setting up the game-winning free throws.

On a night when Butler followed up a 40-point explosion with just 13, the Heat used a 51-21 scoring advantage on 3-pointers to put the Bucks in a big hole.

After trailing by as many as 13 in the first half and 10 in the final period, the Bucks got within 105-102 on a short shot by Antetokounmpo with 5:30 to play.

But Kelly Olynyk countered immediately with his third 3-pointer of the game to double the margin, and then the Heat defense took over.

The Bucks didn’t score again until Antetokounmpo sank two free throws with 1:45 to go, which cut the deficit to 111-104. The nearly four-minute drought featured five missed shots and three turnovers.

Dragic scored 23 points and Tyler Herro added 17 points for Miami. Jae Crowder had 16, Bam Adebayo had 15 to go with a team-high nine rebounds, Duncan Robinson had 13, and Olynyk had 11.

Butler also found time for a team-high six assists and team-high three steals as the Heat forced 14 turnovers while only committing 10.

Antetokounmpo finished with a game-high 29 points and a game-high 14 rebounds after having been held to 18 points and 10 rebounds in Game 1.

Middleton chipped in with 23 points and a game-high eight assists. Eric Bledsoe and Lopez added 16 points apiece and George Hill did 14 for the Bucks, who shot seven-for-25 on 3-point attempts (28%) as opposed to the Heat’s 17-for-45 (37.8%).

Riding the momentum of their Game 1 win, the Heat bombed in five 3-pointers, including two by Olynyk, in the first quarter, building as much as an 11-point advantage.

The margin reached 13 in the second period before the Bucks scratched back. — Reuters

Araneta touts chances of country’s Olympic bets

By Michael Angelo S. Murillo, Senior Reporter

WHILE recognizing that Filipino athletes have their work cut out for them in next year’s Olympic Games, still Philippine chief of mission Mariano Araneta believes the country has a good chance of doing well in the quadrennial sporting meet as it will be represented by athletes that have it in them to make things happen.

Speaking on Tuesday’s online Philippine Sportswriters Association (PSA) Forum, Mr. Araneta shared that Filipino athletes who have already qualified for the Summer Games in Tokyo in 2021 and those still angling to land a spot in it have a realistic shot at producing medals, even possibly that elusive first-ever gold, for the country .

The chief of mission mentioned already-qualified Carlos Yulo (gymnastics), boxers Eumir Felix Marcial and Irish Magno and pole-vaulter EJ Obiena as capable of delivering.

And so do hopefuls Hidilyn Diaz (weightlifting), Nesthy Petecio (boxing), Yuka Saso and Dottie Ardina (golf), and Margielyn Didal (skateboarding).

“We have world champions and I think this is the best chance for us,” said Mr. Araneta, who is also the president of the Philippine Football Federation.

He went on to say that support in every possible way to said athletes is very important to give their Olympic push a boost, something they are trying hard to provide despite the many challenges presented by the ongoing coronavirus pandemic.

In a recent release, the Philippine Sports Commission shared that it has already disbursed at least P350 million for top Olympic bets to date.

Meanwhile, the country’s Olympic bets could be back to their regular training as sports officials are now studying and readying the protocols to be used for a return, said Mr. Araneta.

“We’re looking at resuming training, hopefully by next week for those still vying for a spot in the Olympics,” he said.

Mr. Araneta said they are coordinating with the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) for the possible use of the PhilSports Complex in Pasig City as venue.

The PhilSports Complex is one of the venues being used by the government as a quarantine site for people with coronavirus cases.

In the 2016 Olympics in Rio, Brazil, the Philippines sent 13 athletes with Ms. Diaz winning a silver medal.

Kai Sotto begins NBA G league grind with Ignite

TOP Filipino basketball prospect Kai Sotto has begun his National Basketball Association (NBA) G League push as his team of elite prospects, collectively known as “Ignite,” got its training going this week.

Coached by champion NBA player and coach Brian Shaw, NBA G League Ignite began training in Walnut Creek, California, on Tuesday (Manila time) looking to develop young players in its fold through a program that would hopefully prepare them for the NBA Draft and provide them with professional life skills that they could use in and out of the court.

Among the members of Ignite is Ateneo High School and Gilas Youth standout Sotto, who went to the United States in the hopes of developing his game and fulfilling a dream of becoming an NBA player, the first homegrown talent to make it to The Association if ever.

The 7’2” Sotto, 18, is joined in the team by top high school prospects Jalen Green, Jonathan Kuminga, Daishen Nix, Isaiah Todd, and NBA Global Academy graduate Princepal Singh.

Apart from the mentorship and life skills they will be getting, Sotto and company will be paid to play as professionals.

They, too, have an option to finish their college education if they choose to do so after the program as the NBA G League has partnered with Arizona State in providing such a platform.

With his new journey, Sotto said he is very excited to get it going.

In coaching Sotto, Mr. Shaw said he sees potential in the Filipino player, but underscored that the latter needs to put in the effort if he is to succeed and fulfil his dreams.

“I’m excited to coach these two young players. I haven’t seen much of Kai Sotto but he is a big guy with a nice skill set. He has a nice touch and has a very good understanding of the game,” said Mr. Shaw in a recent online session with Filipino media.

He went on to liken Sotto to NBA All-Star Nikola Jokic of the Denver Nuggets.

“Among the big guys in the NBA right now, [Sotto] has the ability to play like Nikola Jokic. He can shoot from the outside. I haven’t been around him yet, but from the films I have seen of him, he can shoot and facilitate like what Jokic does. He needs to get stronger but he is a versatile player,” Mr. Shaw said.

The NBA G League Ignite squad started its training with one-on-one skill development training with Mr. Shaw and his staff, which includes assistant coach Rasheed Abdul-Rahman, video coordinator Jerry Woods, and athletic trainer Pete Youngman. — Michael Angelo S. Murillo

No sign of slowdown as Osaka beats second-round challenger at US Open

NEW YORK — Former champion Naomi Osaka made quick work of second-round opponent Camila Giorgi (6-1, 6-2) at the US Open on Wednesday, in a lopsided matchup at the Arthur Ashe Stadium in which she showed no sign of slowing down.

A dominant Osaka came roaring out of the gate, winning the first five straight games in near-pristine form, committing just four unforced errors in the first set and winning 10 of her 12 first-serve points.

Osaka, who was forced to withdraw from her Western & Southern Open final last week with a left hamstring injury, walked onto the court with her left leg wrapped in medical tape but showed no signs of fatigue during the match, firing off four aces and forcing her opponent into 24 errors.

“My serve was pretty good,” the 22-year-old said after the match. “I’m really happy with my attitude. I thought I was really positive throughout.”

Osaka, who kept Italy’s Giorgi on the run throughout the match, kept the pace up to complete the affair in just one hour and 10 minutes.

“I’m definitely seeing the importance in time management. I learned a lot from watching Serena yesterday because she was down almost 3-0 but I feel like she picked it up when she knew what she needed to do,” Osaka said in a televised interview after the match.

Serena Williams, a 23-time Grand Slam winner, defeated Kristie Ahn (7-5, 6-3) in her first-round match on Tuesday.

Osaka, who won the 2019 Australian Open but has not made it past the fourth round of a major since, told reporters that she’s taking the tournament “match by match.”

“I stopped thinking about winning. I feel like I put too much pressure on myself,” she said. “I’m only thinking about putting myself in a good position to win.”

The fourth-seeded player, who represents Japan and has emerged as a torchbearer for change within her sport, wore a mask before and after her match honoring Elijah McClain, a 23-year-old Black man who died after a violent encounter with police officers in Aurora, Colorado in 2019.

She next faces Marta Kostyuk of Ukraine in the third round.  Reuters

‘Not easy’ during US Open, but Djokovic moving forward with players body

NEW YORK — Novak Djokovic is finding it tough to deal with issues related to his breakaway players body in the middle of the US Open, but the world number one says he is moving forward with it as more professionals join the cause daily.

Djokovic resigned as head of the ATP player council last week, along with members Vasek Pospisil, John Isner, and Sam Querrey, to form the Professional Tennis Players Association (PTPA).

Despite his off-court distractions, the top seed has looked impeccable and defeated Briton Kyle Edmund on Wednesday to stay on course for his 18th Grand Slam title, while improving his 2020 match record to 25-0.

“It’s not easy for me obviously dealing with all that in the midst of the tournament,” Djokovic told reporters, adding that the PTPA is a “long-term project”.

“We are happy that there is every single day, more and more players signing in. The next step after the US Open is creating a structure legally… the bylaws and everything to follow.”

The Serbian has described the PTPA as a platform for players to be better heard on decisions that affect their livelihoods, but the move has faced resistance from player council members Roger Federer and Rafa Nadal.

Besides the ATP and the women’s WTA, the sport is also controlled by the International Tennis Federation and the boards of the four Grand Slams.

In response to the formation of the PTPA, the governing bodies issued a joint statement calling for unity at a time when the sport has been hit hard by the COVID-19 pandemic, with Federer and Nadal echoing those sentiments.

Djokovic said he spoke to Federer and Nadal before launching the PTPA on Saturday and disagrees with their view that the timing was wrong.

“For a players association, it’s always the right time, and it has been the right time for the last 20 years. Somehow it was never really accomplished, never really realized,” he said. “Right now it is. We are moving forward.”

World number seven Alexander Zverev has yet to join the PTPA, but lauded Djokovic for his role.

“I haven’t signed the paper. But I think it’s a great thing that players do want to come together,” the German said, after reaching the third round of the tournament.

“He’s (Djokovic) a World No. 1. He has made enough money. He doesn’t need to worry about that. He doesn’t need to worry about anything, but he does. He does worry about the well-being of other players… about the health of our sport.” — Reuters

Soccer — it will be difficult for Messi to remain with Barcelona, says his father

BARCELONA — It will be difficult for Lionel Messi to remain at Barcelona after he made public his desire to leave the Spanish club, his father and agent Jorge Messi said on Wednesday as he arrived in the city to negotiate his son’s future.

After flying in on a private jet, Jorge Messi is expected to meet club president Josep Maria Bartomeu later on Wednesday to discuss his son’s future, Spanish media reported.

A club spokesman declined to comment.

The six-timed world player of the year insists he has a clause in his contract that allows him to leave on a free transfer — a claim disputed by Barcelona and La Liga, who say the Argentine can only leave if a rival club is willing to pay a €700 million ($830.20 million) buyout clause.

“I don’t know, I know nothing,” Messi’s father told Spanish TV channel Cuatro when asked if the 33-year-old would leave the only club he has played for professionally.

But when pressed if it would be hard for him to remain, he said “yes”. And asked how he sees Messi’s future at Barcelona, he replied “difficult, difficult.”

He dodged questions on whether Manchester City would be a good option for his son. A move to Manchester City would allow Messi to link up with his former Barcelona coach Pep Guardiola.

“I don’t know, there’s nothing yet,” he said, adding he had not had any discussions with Guardiola, who enjoyed trophy-laden years as Barcelona manager with Messi in his pomp.

Messi did not show up on Monday for the first training session of the season under new coach Ronald Koeman. — Reuters

Second season of The Nationals to finally kick off

DELAYED by the coronavirus pandemic, Season 2 of The Nationals finally kicks off this weekend.

The country’s first-ever franchise-based esports league, The Nationals looks to build on its gains from its first season last year in the second edition slated to take place from this month till December.

Unlike its maiden season, however, The Nationals has decided to make changes in the conduct of the tournament, adapting to the current situation with the pandemic.

Among the changes is that instead of two conferences, the league will only have one for the 2020 season.

It will be of regular length, featuring a double round-robin tournament for Tekken 7, DOTA 2, and Mobile Legends Bang Bang.

Also, the teams will be competing from their respective locations unlike last year when the matches were played in a studio setting.

This is to ensure the health and safety of all participants.

Set to compete in the new season are Bren Epro, Happy Feet Emperors, STI eOlympians, Smart Omega, Cignal Ultra Warriors, and Laus Auto Group Playbook Esports Eagles.

The tournament kicks off on Sept. 5 with Tekken 7, to be followed by DOTA 2 and Mobile Legends Bang Bang as the proceedings move forward.

Despite the delay and the challenges presented by the current health crisis, the people behind The Nationals are determined to forge ahead to push esports further in the country and inspire during these tough times.

“We think there is an opportunity out there, despite the pandemic. And it’s not only in pushing for esports, but also creating jobs for the players and the support staff,” said The Nationals Commissioner Ren Vitug in the lead-up.

Adding, “Sports and competition bring joy and hope. Thankfully, esports is resilient in these times.”

Incidentally, The Nationals is being supported by the newly recognized national sports association for esports in the country – Philippine Esports Organization (PeSO).

After months waiting, the protagonists said they are very excited to get it going.

“We are very much excited for the games to start. Our team feels really good and have done nothing but practice since the quarantine,” said Bren Epro official Jab Escutin in a short online message to BusinessWorld.

Adding, “Finally being able to play is a sign that we are moving forward, in spite of the challenges of this crisis.”

The Nationals can be seen on free TV over One Sports and paid TV via OneSports+ and GG Network, as well as the official The Nationals Facebook page. — Michael Angelo S. Murillo

Jazz roster

A season’s worth of disappointment was etched on Donovan Mitchell’s face as he met members of the media, in the aftermath of Game Seven of the Jazz’s opening-round playoff series. To argue that he was deflated would be an understatement; he entered the 2019-20 campaign determined to do all he could to better their immediate-past, one-and-done postseason showing. And, for a while there, he seemed ready to live up to his own outsized expectations; he sported a more complete playmaking arsenal en route to an All-Star berth, his upward trajectory stalled only by circumstances off the court. Unfortunately, it still proved wanting in the face of the Nuggets’ superior talent base.

Certainly, Mitchell’s performance in the bubble environment over the last couple of months was a reflection of the significant strides he made. Never mind that the coronavirus pandemic threatened to scuttle the season, and given the cause of its suspension, the Jazz’s esprit de corps. Specifically, his relationship with fellow All-Star Rudy Gobert hung in the balance, and for a while during the stoppage in play, he harbored resentment. As things turned out, he was won over by his professionalism and faith to rekindle ties with his teammate. His showing and their work in tandem, if nothing else, underscored that he was in a good place.

Considering how close the Jazz came to upending the higher seeds, Mitchell had cause to wallow in dismay. They had three chances to close the deal. Instead, they became just the 12th team in National Basketball Association annals to snatch defeat from the throes of victory off a three-to-one series lead. In part, the result highlighted their inability to deliver under pressure. In larger measures, however, it was because the Nuggets simply had more weapons at their disposal. And it certainly wasn’t his fault; in fact, he normed a ridiculous 36.3 points (off 52.5% and 51.5% shooting from the field and beyond the three-point line, respectively), five rebounds, and 4.9 assists in the first-round set-to.

True, Mitchell did lose the ball during what was supposed to be the final sequence in Game Seven. He drove to the lane with well over 12 seconds left on the clock, and despite a swarm of defenders lying in wait — leaving him susceptible to precisely the turnover that Gary Harris induced with a swipe from behind. On the other hand, the Jazz wouldn’t have been in position to win at all without his efforts; he appeared to be their only offense early on, and he took on the unenviable role of defending otherwise red-hot Jamal Murray from the get-go.

Naysayers may have reason to claim the Jazz made their job harder with miscue after miscue from Game Five onward. In the dying seconds of the rubber match alone, they had several brain-freeze moments. Among others, there was their useless burning of a timeout, and then their failure to find Mitchell (who lingered backcourt) after the Nuggets’ own cringe-inducing decision to go for a shot (which missed) instead of dribbling the time away. Down two in a low-scoring affair, having Mike Conley (who hitherto went two of 12 from the field and one of five from lone range) take a leaner from distance at the buzzer for the win was simply wrong.

And so Mitchell was rightly overcome with emotion as he tried to come to grips with the outcome. Creditably, he pointed fingers at no one but himself; he vowed to learn from his experience and come back even better. Creditably, the Jazz pledged to give him the max contract he deserves as soon as negotiations can get under way. Moving forward, though, it’s but reasonable to wonder if they’ve gone as far as they can with the roster that they have. They need to assess their future with openness. Having already decided that he’s their foundation piece, they now have to acknowledge that everyone else, Gobert included, should be fair game. Then, and only then, can they find their investment in him amply rewarded.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

France unleashes 100B euro stimulus to revive economy

GOLDEN STATUE at the Trocadero square near the Eiffel tower wears a protective mask during the outbreak of the coronavirus disease 2019 in Paris, France, May 2. — REUTERS

PARIS — The French government detailed on Thursday its 100-billion-euro ($118.3-billion) stimulus plan to erase the economic impact of the coronavirus crisis over two years, lining up billions of euros in public investments, subsidies and tax cuts.

The plan earmarks in particular 35 billion euros for making the euro zone’s second biggest economy more competitive, 30 billion  euros for more environmentally friendly energies, and 25 billion euros for supporting jobs, officials said ahead of its official presentation late on Thursday.

With the plan equating to 4% of gross domestic product, France is ploughing more public cash into its economy than any other big European country as a percentage of GDP, one of the officials said.

President Emmanuel Macron’s government is banking on the plan to return the economy to pre-crisis levels of activity by 2022 after suffering this year what the finance ministry expects to be its worst post-war recession, with a contraction of 11%.

The plan also aims to put Macron’s pro-business push back on track with already flagged cuts in business taxes worth 10 billion euros annually and fresh public funds to give a boost France’s industrial, construction, and transport sectors.

Officials said the transport sector would get 11 billion euros with 4.7 billion euros targeting the rail network in particular, while energy-efficient building renovations would be spurred with 4 billion euros for public buildings and 2 billion  euros for homes.

The hydrogen industry, increasingly seen as a key building block in the transition away from fossil fuels, would get 2 billion euros over the two years of the stimulus plan.

Another 1 billion euros would be offered in direct aid for industrial projects, including 600 million euros to help firms relocate plants abroad back to France.

Some 80 billion euros of the overall cost of the plan will weigh directly on the budget deficit, with EU subsidies offsetting 40 billion euros, officials said. —  Reuters

Steroids cut death rates among critically ill COVID patients — study

A DOCTOR tends to a patient connected to a mechanical ventilator at the coronavirus disease 2019 (COVID-19) emergency room of East Avenue Medical Center, in Quezon City, June 26. — REUTERS

LONDON — Treating critically ill coronavirus disease 2019 (COVID-19) patients with corticosteroid drugs reduces the risk of death by 20%, an analysis of seven international trials found on Wednesday, prompting the World Health Organisation (WHO) to update its advice on treatment.

The analysis — which pooled data from separate trials of low dose hydrocortisone, dexamethasone and methylprednisolone — found that steroids improve survival rates of COVID-19 patients sick enough to be in intensive care in hospital.

“This is equivalent to around 68% of (the sickest COVID-19) patients surviving after treatment with corticosteroids, compared to around 60% surviving in the absence of corticosteroids,” the researchers said in a statement.

The WHO’s clinical care lead, Janet Diaz, said the agency had updated its advice to include a “strong recommendation” for use of steroids in patients with severe and critical COVID-19.

“The evidence shows that if you give corticosteroids… (there are) 87 fewer deaths per 1,000 patients,” she told in a WHO social media live event. “Those are lives… saved.”

Jonathan Sterne, a professor of medical statistics and epidemiology at Britain’s Bristol University who worked on the analysis, said the trials -— conducted by researchers in Britain, Brazil, Canada, China, France, Spain and the United States gave a consistent message throughout, showing the drugs were beneficial in the sickest patients, regardless of age, sex or how long patients had been ill.

The findings, published in the Journal of the American Medical Association, reinforce results that were hailed as a major breakthrough and announced in June, when dexamethasone became the first drug shown to be able to reduce death rates among severely sick COVID-19 patients.

Dexamethasone has been in widespread use in intensive care wards treating COVID-19 patients in some countries since then.

Martin Landray, a professor of medicine and epidemiology at the University of Oxford who worked on the dexamethasone trial that was a key part of the pooled analysis published on Wednesday, said the results mean doctors in hospitals across the world can safely switch to using the drugs to save lives.

The WHO’s updated guidance, published on its website late on Wednesday, said corticosteroids should only be used in treatment of the sickest COVID-19 patients, and not in non-severe cases, since “the treatment brought no benefits (in milder cases) and could even be proven harmful”.

The UN health agency also urged countries to maintain sufficient stocks of corticosteroids, “while not maintaining excessive stocks which could deny other countries access”.

Researchers said the benefit was shown, regardless of whether patients were on ventilation at the time they started treatment. — Reuters

Beyond fiscal stimulus

 

In his recent commentary in an IMF Blog, Nobel laureate Joseph Stiglitz of Columbia University argued that COVID-19’s impact differs from country to country.

Factors that make a difference are: the state of healthcare facilities; the preparedness and resiliency of individual economies; the quality of public response; public trust in government guidance and policy; and sense of community.

The viral scourge is worse where there is pre-existing wealth inequality. The poor, and low-skilled workers are more exposed to other people. Studies show that infections are rampant even in some developed economies where citizens do not have access to decent healthcare. This is how they sustained larger damage.

In previous columns, we cited the 2019 Global Health Security Index involving 195 countries. The Index broadly covered the same metrics. In it, the Philippines ranked 53rd and scored 47.6 out of 100%. The Philippines fared lowest among the ASEAN 6. Thailand was 6th; Malaysia, 18th; Singapore, 24th; Indonesia, 30th; and Vietnam, 50th.

While all countries have been hit by the pandemic, its effects vary across countries and regions. The Philippine infection rate is now the highest in Southeast Asia.

Given real and lingering fears of catching the disease, many normal social, consumer and business activities are unequivocally priced riskier today. Empty or half-full malls and restaurants are anathema to financial statements and balance sheets. With weakening business links and value chains, indicators of consumer and business activities continue to trend south.

We share Stiglitz’ fear that this state of things could further accelerate inequality and shorten the social fuse.

If there is one big lesson that 2020 taught us, it is anagnorisis. We now recognize the whole essence of the pandemic; its pervasive health impact and how vulnerable we have become. We are aware of public policy limitations; of economic dislocation and forced poverty. We feel the effects on mental health and many have experienced the trauma of desolation and even faced death. Even spiritual activities like church services and prayer meetings have to give way to health protocols, with Zoom replacing sanctuaries and temples of worship.

We agree with most of Stiglitz’ recommendations for rewriting the rules of the economy, in the US and elsewhere.

Interesting are his recommendations for better balanced bankruptcy laws, instead of overly creditor-friendly ones that leave little accountability for those engaged in predatory lending. Equally intriguing is his recommendation to have more inclusive corporate governance laws that protect both shareholders and other stakeholders. Workers and environment protection is critical in the new normal.

While it appears sound, it is difficult to share Stiglitz’ proposal for monetary policies “that focus more on ensuring full employment of all groups and not just on inflation.”

Reducing both the policy rate and infusing the system with more and more liquidity during this pandemic is like pushing on a string. With limited policy instruments, central banks would be challenged to deliver on Stiglitz’ all-embracing expectations. With this inherent handicap, monetary policy can lose credibility. Its effectiveness will be compromised.

This means fiscal policy should do more heavier lifting. In the Philippines, fiscal measures have been trained on increasing public spending on both fighting the virus and enabling an economic bounce back. Support has also been given to the impoverished and the jobless. Our fiscal authorities have also indicated their intent to provide assistance to small entrepreneurs. Some big corporations including those in the aviation industry are also seeking some hand holding.

Can we afford what Congress and some segments of the civil society would like the National Government to do — spend more to stimulate economic recovery, save businesses, and protect jobs?

For 2020, any additional amount to the supplemental budget can only be funded from budgetary reallocations — from pork to public works, social protection and wage support — and from any future revenue stream or public savings. Finance Secretary Sonny Dominguez categorically pegged it between P140 billion to P160 billion.

Senator Sonny Angara, sponsor and champion of Bayanihan II, explained that the P140-billion allocation will go to procurement of some 6 million N95 face masks, 8.5 million gowns, 1 million head covers, and 2 million coveralls; hiring more frontline medical workers and extension of services; payment of compensation for affected frontline medical workers; more quarantine facilities; reimbursement funds due to district, provincial, and city hospitals; hiring of contact tracers; and procurement of medicines and vaccines, when available. We cross our fingers and pray this amount would be sufficient because this is all the government can afford this year.

It should be a different ball game for 2021 and 2022.

Yes, it would be too ambitious to raise revenues to approximate pre-pandemic levels. Yes, we can also undertake reforms to further improve efficiency of spending, reduce corruption, and enhance the business environment. But these are good only in the medium term. The yields may not be enough.

This is a crisis like no other. To manage it and its consequences would cost an arm and leg especially given pre-existing handicaps in healthcare and infrastructure. The Philippines is in this situation. As in golf, we need to catch up to be at par. We need to spend more to compensate for disadvantaged consumers and businesspeople.

Therefore, the government will have to borrow in a big way from both domestic and foreign sources. We need not be anxious about this because when the year began, debt sustainability assessments by both the government and international financial institutions indicated that our public finance was robust and promising. Fiscal policy has good latitude.

This is one of our pre-existing buffers.

But borrowings cannot be unlimited. Debt must be kept sustainable so that it does not imperil growth and stability. Otherwise, debt distress will follow and we might be unable to fulfill our financial obligations. We would then find ourselves in a bind, unable to grow because of hamstrung revenues and resources. We might be in a situation where nobody is paying taxes because businesses are down and people are not buying.

No one wants to lend to a losing proposition. This cycle can only be broken by the government.

So far, the Government is doing its share. As of the end of July 2020, accumulated National Government (NG) debt reached P9.16 trillion. This is more than twice the proposed budget for next year. Deficit spending was intense at P700 billion. Public expenditure of P2.4 trillion was supported by total revenues of only P1.7 trillion during the first seven months of the year. Between end-December 2019 and end-July 2020, the NG has already borrowed P1.4 trillion. This is the reason for the urgency for Congress to pass the various revenue bills pending on the floor. This is crucial in avoiding dependence on too much borrowing to promote economic recovery and sustain growth.

If the deficit hits 9.6% of GDP, we expect that the debt to GDP ratio will hit around 54%. This would be the same as the debt to GDP level of 10 years ago.

We can interpret it negatively by saying we would be set back by 10 years in terms of debt sustainability. More than half of output was generated by borrowed funds. As a consequence, a larger portion of our output would have to be earmarked for debt servicing.

On the other hand, borrowing is an imperative if we wish to grow out of debt. We need more resources to fund infra projects, to support consumption and investment, to lay down the groundwork for economic recovery. We shall be paying down our debt as we grow. Over time, we should be able to reduce the debt to GDP ratio and restore it to pre-pandemic levels.

For its part, the private sector should innovate products and services to conform to the new normal. Delivery modes should also adapt by employing digital solutions. Agriculture will benefit from more engagement with the soil.

Our prospects will only improve when the pandemic shows some flattening. This requires our health authorities to step up. The people of the Philippines are looking for results. Unless they see this, the crisis of confidence will remain more than sand in the wheels.

Otherwise, we cannot restart growth. We shall fail to replicate what we have sustained in the last 21 years of uninterrupted economic growth.

In the recent Fund publication, we note that countries face a formidable future characterized by a collapse of government revenues and withdrawal of private capital.

In the Philippines, tax revenues dropped during the lockdown months. Both foreign direct and portfolio investments have nearly dried up. More official international capital flows appear to have been made available as a compensatory measure.

The Philippines has already tapped both the World Bank and ADB, in addition to the Asian Infrastructure Investment Bank. The government has also floated global bonds amounting $2.35 billion and Euro 1.2 billion in the first half of 2020.

Responding to what is expected to happen during a global crisis, credit rating agencies (CRAs), have started credit downgrades.

We are afraid that with these procyclical downgrades, the situation could be pushed from bad to worse. From the perspective of emerging markets like the Philippines, these actions further weaken the external sector of trade and investment and reduce latitude for recovery and growth. This underlines the need to pursue economic revival while ensuring fiscal and debt sustainability.

Definitely, public spending should be sufficiently large but it should also be smarter, addressing  both present exigencies and future concerns.

 

Diwa C. Guinigundo is the former Deputy Governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was Alternate Executive Director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.