Philippines: Balance of payments position

Source BusinessWorld

Natividad Arago, 74, worries about the future of her seven-year-old grandson, who has barely learned anything in his two years of online classes amid a coronavirus pandemic...

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The Philippine economy was in a deficit of more than a billion dollars in its transactions with the rest of the world for the second consecutive month in June, owing largely to the National Government’s payment of foreign debt...

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Despite continued case increases in most regions, the entire nation and all regions remain at low-risk Covid case classification, the Department of Health (DOH) said on Wednesday...

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The Philippine government's debt would decline during the next few years if economic growth is kept above 6 percent and the tax base is expanded, debt watcher Fitch Ratings said...

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The Asean+3 Macroeconomic Research Office (AMRO) sees Philippine gross domestic product (GDP) reaching 6.9 percent for 2022 and 6.5 percent for 2023...

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It is only a matter of time before the highly transmissible COVID-19 Omicron subvariant BA.2.75 enters the Philippines, a health expert said Wednesday...

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Three lawmakers on Wednesday refiled a measure banning all forms of contractualization and urged President Ferdinand R. Marcos Jr. to make the “anti-endo” bill a priority of the administration...

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Government-owed Philippine Deposit Insurance Corp. (PDIC) said its amended charter further strengthened and expanded the financial safety net for depositors and creditors of local banks...

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A party-list lawmaker has vowed to protect delivery riders from fraudulent bookings, and penalizing customers who cancel confirmed orders on e-commerce platforms like Grab, Lazada, and Shopee...

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Senator Francis Escudero on Wednesday expressed optimism that his proposal to mandate all government officials and employees to waive their rights under the Bank Secrecy Law (Republic Act 1405) and the Foreign Currency Deposit Act (RA 6426) will finally be approved under the 19th Congress...

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Government biologists and researchers are currently developing a detection system for coffee pests and diseases through a project funded Department of Science and Technology’s (DOST) Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development (PCAARRD)...

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Poor and even middle-income countries are at risk of facing a debt and food crisis given the steep increase in commodity prices, according to an economist from the World Bank...

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Regional think tank ASEAN+3 Macroeconomic Research Office (AMRO) announced on Wednesday that it has retained its forecast of the Philippine economy’s growth despite external uncertainties and heightened headwinds...

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The Philippines and India are “most at risk” of having to refinance debt in an environment of rising interest rates because of the short-term debt they are carrying in their financing mix, ANZ Research said in a report on Wednesday...

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Philippine banks' credit ratings, as well as those of lenders in the region, could face pressure from rising risks of cyberattacks due to an increase in digitalization in the sector, Fitch Ratings said...

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The Philippines has maintained its Tier 1 status, the highest among four classifications, in the 2022 Trafficking in Persons Report released by the US Department of State, saying the country continued to meet the minimum standards of the US Trafficking Victims Protection Act of 2000 in eliminating human trafficking...

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How many liters of petrol can someone in the Asia and Pacific region buy for an average net monthly wage? Majority of countries in the region have seen record-breaking increases in petrol prices this year due to several factors...

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The Asian Development Bank on Thursday slashed its 2022 growth forecast for developing Asia and warned economic conditions could worsen, as the war in Ukraine and supply chain disruptions drive up prices...

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Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation and defend weakening currencies.

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Sri Lankan lawmakers chose six-time premier Ranil Wickremesinghe as president on Wednesday to serve the rest of his ousted predecessor's term, in a vote that risks reigniting political turmoil in the troubled South Asian island nation...

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U.S. President Joe Biden plans to speak with his Chinese counterpart, Xi Jinping, within the coming days at a moment of simmering tensions between the countries...

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President Joe Biden, thwarted by lawmakers and the Supreme Court, sought Wednesday to revive his ambitions to tackle climate change as heat waves batter the United States and Europe...

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The United States on Wednesday promised to send more precision rocket systems to Kyiv, soon after Moscow signaled it was aiming to seize more Ukrainian territory beyond the eastern industrial region of Donbas...

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Russian President Vladimir Putin on Tuesday said that the West must remove restrictions on exports of Russian grain...

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A punishing heatwave fuelling ferocious wildfires in western Europe pushed temperatures in Britain over 40 degrees Celsius (104 degrees Fahrenheit) for the first time on Tuesday and regional heat records tumbled elsewhere...

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Three mothers of children with cerebral palsy backed by civil society organizations file a judicial review of Indonesia's strict narcotics law in 2020, arguing for the use of medicinal marijuana to treat symptoms...

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A Japanese health ministry panel on Wednesday, July 20, delayed emergency approval for an oral treatment against COVID-19 that has been developed by Shionogi & Co...

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The Chinese military slammed Washington for its frequent “provocations” after an American guided-missile destroyer sailed through the Taiwan Strait on Tuesday...

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COVID-19 booster doses are seen to be effective in fighting off the BA.2.75 subvariant, a member of the Advisory Council of Experts said Thursday...

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Russia will not export oil to the world market if the price is capped below the cost of production, Interfax news agency quoted Deputy Prime Minister Alexander Novak as telling Russian television on Wednesday...

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The World Health Organization (WHO) has confirmed 14,000 cases of monkeypox worldwide, with five deaths reported in Africa, Director General Tedros Adhanom Ghebreyesus said on Wednesday...

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Just a week after its first images were shown to the world, the James Webb Space Telescope may have found a galaxy that existed 13.5 billion years ago, a scientist who analyzed the data said Wednesday...

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New Zealand said late on Wednesday it had increased measures to prevent foot and mouth disease (FMD) from getting into the country after the disease was recently found in the Indonesian tourist resort of Bali...

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U.S. President Joe Biden said on Wednesday that climate change is an emergency but stopped short of a formal declaration, announcing a modest package of executive actions and promising more aggressive efforts...

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NASA's Perseverance rover captured an unusual image of something lying in the red sand of Mars: a bundle of string. The rover's front left hazard avoidance camera took a photo of the light-colored object on July 12 that some people likened to spaghetti...

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Amazon said Tuesday it has sued the administrators of more than 11,000 Facebook groups allegedly responsible for facilitating the purchase and sale of fake reviews on Amazon's marketplace in seven countries...

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The Department of Migrant Workers has launched the One Repatriation Command Center (One-Repat DMW) for distressed overseas Filipino workers and their families wishing to be “rescued” from abusive employers and repatriated back home...

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The government will launch a major campaign to improve booster coverage that targets at least 23 million more Filipinos starting next week, the Department of Health (DoH) said...

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The National Disaster Risk Reduction and Management Council (NDRRMC) on Wednesday said it was ready to hold bigger responsibilities in responding to the pandemic by taking over the role of the National Task Force Against COVID-19 (NTF) as the country faces an increase in new infections fueled by a more contagious Omicron subvariant...

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President Ferdinand "Bongbong" Marcos Jr. has administered the oath of Yogi Filemon Ruiz as the new commissioner of the Bureau of Customs (BOC). The Palace confirmed on Thursday that the oathtaking ceremony for the successor of Rey Leonardo Guerrero was held on Wednesday...

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Acknowledging concerns on the impending return to full in-person classes by November, President Ferdinand Marcos Jr. said “blended learning” would continue beyond Oct. 31 in “specific” areas to be identified by the Department of Education (DepEd)...

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The plan of Social Welfare Secretary Erwin Tulfo to expose undeserving beneficiaries of the government’s cash aid program could just pit neighbor against neighbor, similar to the ways of the much-loathed “Makapili” spies during the Japanese occupation, one of his predecessors said on Wednesday...

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The Department of Health (DOH) has asked the Food and Drug Administration (FDA) to consider expanding the groups allowed to get second booster shots, particularly those with comorbidities or are between the ages of 50 and 59 years old...

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President Ferdinand “Bongbong” R. Marcos Jr. lauded the Philippine Women’s National Football team Filipinas for giving the country the “greatest gift” after its historic win during the weekend...

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The Commission on Elections (Comelec) has allotted some P8.5 billion for the Barangay and Sangguniang Kabataan Elections (BSKE) on December 5...

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The Department of Health (DoH) on Wednesday said the government is looking into the possibility of easing more Covid-19 restrictions such as the lifting of mandatory wearing of masks in outdoor spaces...

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The Philippine Postal Corp. (PHLPost) is coordinating with village offices to organize a weekend "plaza-type" distribution of unclaimed Philippine Identification (PhilID) cards...

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The Philippines could experience another lost decade if the current administration fails to address the impact of multiple crises of food, fuel, and the pandemic amid rising debt, according to the Freedom from Debt Coalition (FDC)...

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Around eight in every 10 Filipinos are hopeful that the worst of COVID is over, a survey conducted by Social Weather Stations (SWS) showed...

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President Ferdinand "Bongbong" Marcos Jr. told the Department of Education (DepEd) and other agencies to ensure that all preparations are in place for the resumption of face-to-face classes...

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The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) is urging the government to review the incentives rationalization, which it said is putting the industry at a disadvantage...

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The Departments of Agriculture (DA) and Public Works and Highways (DPWH) are discussing the priority areas where the farm-to-market roads (FMR) will be constructed following an order byPresident Ferdinand “Bongbong” R. Marcos Jr. to craft an FMR masterplan to ensure food security in the country...

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President Ferdinand "Bongbong" Marcos Jr. has appointed Danilo Cruz as the new head of the Technical Education Skills Development Authority (TESDA), Malacañang said on Wednesday...

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English and Filipino should be used as the media of instruction in schools as early as kindergarten, an official of the Department of Education (DepEd) said Wednesday...

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The government has to vaccinate 397,334 individuals per day for 60 days in order to achieve the target of 50% booster coverage set by President Ferdinand “Bongbong” R. Marcos, Jr., for his first 100 days in office, the Department of Health (DoH) said in a July 19 Viber message...

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Amid her order for all schools to transition to face-to-face classes in November, Vice President and Education Secretary Sara Duterte said on Wednesday, July 20, that the Department of Education (DepEd) will soon come up with a plan that will consider a blended mode of instruction but only for specific areas and circumstances...

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Sen. Sherwin Gatchalian on Wednesday said a Pulse Asia survey that he commissioned in June showed that 50 percent of Filipinos think public school teachers "are underpaid"...

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The Marburg virus disease (MVD) is epidemic-prone, the World Health Organization (WHO) said, stressing that it can spread easily if not prevented...

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The Philippine National Police (PNP) on Wednesday appealed to American lawmakers to specifically cite accusations of human rights violations hurled against the institution...

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President Ferdinand "Bongbong" Marcos, Jr. is widely expected to unveil the nitty gritty of his economic agenda during his State of the Nation Address (SONA) next week...

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The Department of Health (DOH) on Wednesday assured the public that the highly infectious Marburg virus, which caused deaths in the African nation of Ghana, is unlikely to enter the Philippines...

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The Scarring impact of the coronavirus pandemic on the Philippines can be significantly reduced if the economic growth remains strong this year and in 2023, the ASEAN+3 Macroeconomic Research Office (AMRO) said...

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While the Philippine economy was expected to grow the fastest in the region in the next two years, it needs to address the scarring effect of the prolonged COVID-19 pandemic on the education sector as well as small businesses...

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The Philippines, despite being blessed with vast agricultural lands, has increasingly relied on the importation of key commodities to augment the supply of food products in previous years...

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The weak job market and the declining quality of jobs are the result of the government’s failure to develop industries involved in production, which President Ferdinand R. Marcos, Jr., should prioritize during his term, according to a think tank...

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The Bangko Sentral ng Pilipinas (BSP) is calling for higher public investment to upgrade and modernize the country’s information technology (IT) infrastructure as the country pursues more digital payment streams and improve access to digital banking...

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Even with its current cold stance toward new tax burdens on Filipino consumers, the government is still expected to pursue taxes that will hit more people if its macroeconomic assumptions are not met...

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