PHL may go into recession — Diokno
THE Philippine economy could go into recession this year, central bank Governor Benjamin E. Diokno said on Sunday, as the coronavirus pandemic brings everything to a standstill.
ADB approves $5-M emergency grant for PHL fight vs virus
THE Asian Development Bank (ADB) has approved a $5-million emergency grant for the Philippines’ fight against the coronavirus disease 2019 (COVID-19), the Department of Finance (DoF) said on Sunday.
Pandemic expected to weaken job market
JOSEPH LAGUERTA, 32, has been trying to get as many odd jobs as possible to replace the daily income of P650 he used to get as a carpenter in Makati City.
PhilSTAR group launches ‘Tala Para sa Kapwa’
THE enhanced community quarantine (ECQ) due to the coronavirus outbreak has disrupted the lives of many, including the informal sector, homeless and contractual workers. Frontliners also face heightened risks due to the lack of proper protective personal equipment.
BSP may pump more money into system amid outbreak
THE Philippine central bank is expected to pump more money into the financial system as low lending rates fail to stimulate an economy that has been put into a standstill by a novel coronavirus pandemic.
February outstanding debt rises on bond sales
THE National Government’s outstanding debt rose by 5.2% from a month earlier to P8.165 trillion as of end-February due to bigger sales of both foreign and local bonds, according to the Treasury bureau.
Gov’t set to borrow P190B in April
THE government has set a P190-billion borrowing program for April focused on short-term tenors, even reintroducing a 35-day term, as investors shun securities with longer maturities amid ongoing uncertainties.
Bigger budget deficit not expected to hurt Philippines’ credit profile
THE PHILIPPINES still has room for a more aggressive fiscal response to blunt the impact of the coronavirus disease 2019 (COVID-19) pandemic, according to credit raters who said that the expected widening of the budget deficit will not affect the country’s credit standing as long as the debt rise is temporary.
LGUs, agencies urged to cut red tape amid ECQ
GOVERNMENT AGENCIES, including local government units (LGUs), are being urged to simplify and streamline procedures and requirements as the country is under a state of national emergency due to the coronavirus disease 2019 (COVID-19) outbreak.
Government eyes up to $2-billion loan
THE COUNTRY is looking to borrow up to $2 billion from multilateral lenders to support increased spending to stem the impact of the coronavirus disease 2019 (COVID-19), the Finance chief said, adding the government’s fiscal position is sound and can accommodate larger debt to plug its budget deficit.
Household consumption to take hit amid coronavirus pandemic
ANNA CRUZ, a mother of two, has been struggling to feed her family since last week when Luzon was placed under enhanced community quarantine in order to contain the spread of the coronavirus disease 2019 (COVID-19) in the country.
Foreign business groups urge gov’t to address cargo delays amid ECQ
FOREIGN business groups are urging the government to ensure the unhampered transport of food and other essential products, amid reports that cargo trucks are still being stopped at checkpoints amid the Luzon-wide enhanced community quarantine (ECQ).