“Well, there are things that one must do as a public servant and this is not the first time that I went up against a sitting president, a sitting vice president and a very powerful senate president. So, I believe I’m just being consistent regardless of the dangers that I could probably face” – Antonio F. Trillanes IV (Transcript BBC Interview of Senator Antonio F. Trillanes IV, 27.06.2017).
Senator Antonio Trillanes has worked tirelessly against President Rodrigo Duterte, the President revoked the Amnesty, which was agreed on 31st January 2011 and that was made “null and void” on the 31st August 2018. This is happening as Trillianes has worked steadily since May 2016 to look into the economy of the Duterte family.
He has gone after Paolo Duterte and also Sara Duterte. Not only the offshore accounts of the President Duterte. He has pushed for impeachment of the President. On the President’s undeclared wealth, charged him with corruption, wanted the Ombudsman to probe the Presidents wealth, asking the Senate to probe Duterte’s Wealth and also filled a Plunder Complaint against the President. All of this he has pushed from May 2016 until February 2018.
Clearly, the openness is needed for any public official, that Trillanes has fought for that is natural. Duterte have really triggered him, what is special about the senator is that he is from the marine and persistence. He knows the value of information and dropping confidential documents, as he did with the Greenbase Expose. That shown the plans of misusing the terrorist threats in Mindanao for oil exploration there in 2003.
Therefore, the revelation of making the amnesty null and void is showing that Duterte is retaliating. He is pushing someone back to be cornered. Trillanes has already been behind bars for seven years before becoming Senator. That is why this is not something foreign to him.
As a former marine and prisoner might explain even more, why he is so persistence and orientated on keeping Duterte on guard. At the same time, the tireless campaign against him, has possibly backfired as Duterte now used his powers to null and void his amensty. This means Trillanes is in legal limbo awaiting possible trial for the mutiny and other charges of the past.
This story is clearly not over, as the amnesty move by the President will start a legal case. Also, put the Senator more under fire than he has been of late. Trillanes cannot attack Duterte as much, since this is trying to detain him like Leila De Lima. So, he will be yet another critical senator that Duterte dismissed with power.
We can just wonder how this one will go, but Trillanes will really feel it now, as Duterte has the position to do so and he is not. The revoked amnesty is a pickle, who knows, but we all know this a political hit-job. Peace.
“I’m just doing my job, even though we encounter critics — but if I need to make certain changes, I’ll do it.” – Mocha Uson
If you would think the Rodrigo Duterte administration ever would sway away from controversy, they have to continue to find ways to do so. Now, they are working and have worked on a new constitution that introduce federalism. This piece will not be about that, but about someone they plan to tap into promotion of that cause. That is Duterte using a Presidential Communications Operations Office (PCOO) Assistant Secretary Margaux Mocha Uson to be a spokesperson for it, but how and what?
Does Uson even have the basic knowledge of what Federalism means compared to the democratic republic today and the constitutional democracy it is today, which simple definition is: “DEMOCRACY is a system of government by the whole population or all the eligible members of a state, typically through elected representatives. Constitutional democracy can be defined as a system of government in which there are clear limits of political authorities, and the electorate has the power to remove poor performing governments. Constitutional democracy is the type of democracy where powers of the majority are exercised within a frame work of the constitution designed to guarantee the majority right” (School Mattazz – ‘CONSTITUTIONAL DEMOCRACY: MEANING, TYPES AND CHARACTERISTICS’).
While what she will promote is this: “Legal Definition of federalism: distribution of power in a federation between the central authority and the constituent units (as states) involving especially the allocation of significant lawmaking powers to those constituent units” (Merriam-Webster – Federalism, 21,07.2018 link: https://www.merriam-webster.com/dictionary/federalism).
I have a feeling the Assistant Secretary would have a hard time explaining the difference, only speaking the points that the administration delivers her. Her past is no good either, so I don’t understand how she will be speaking on behalf of the administration in this complex case and with the changes of the possible constitution.
Using Uson to campaign for federalism:
“Concom spokesman Ding Generoso told The STAR that Uson would be a big help in their campaign to promote federalism and for their proposed Constitution through her social media following. “I really wanted to tap her. If she can write and interview the Concom members about the proposed constitution and federalism, that would be a big help for our campaign,” Generoso said. “We will talk to her and see how she can help,” he added. Comparing his appearances on television interviews with that of Uson’s blog, Generoso said that he is getting fewer views than Uson, whose videos are reaching millions of netizens” (Robertzon Ramirez – ‘Concom to tap Mocha for pro-federalism campaign’ 29.07.2018, link:https://www.philstar.com/headlines/2018/07/29/1837706/concom-tap-mocha-pro-federalism-campaign#cey37RrlmvLZw56Q.99
Senate Defense of Appointment:
“For one, I hope that she will be a purveyor of truth, rather than propaganda; of responsibly gathered and vetted facts and news, rather than so-called “alternative facts” and fake news. She is no longer just a private blogger or social media personality; she is now a civil servant. For another, it matters, not just what she says, but also how she delivers it. I implore her to be more circumspect about her choice of words and way of saying them. I do not mean that she ought to use sophisticated words. In fact, I do encourage her to speak plainly. Plain but cleanly. Be aware that our children are listening to us. Our future generations are taking their cue from us on how to express and carry themselves. I hope that Ms. Uson will prove herself a model of dignity – the dignity of a woman, a public servant – for our people, especially the youth of today” (On the appointment of Mocha Uson as Asec. of the PCOO, Dispatch from Crame No. 85, 16.05.2017, link: http://www.senate.gov.ph/press_release/2017/0516_delima4.asp).
PCOO allowed Uson to work in Casino, countering the law of public official:
“PCOO Secretary Martin Andanar said in a statement that “Mocha asked permission to honor her entertainment contracts when she joined government.” However, while Uson is not prohibited from performing, Andanar added that she is advised to avoid such places. This comes after videos circulated on social media allegedly showing Uson performing with her girl group “Mocha Girls” at Bar 60 located at the ground floor of Resorts World Manila. Uson supposedly also has gigs at places like Punchline Comedy Bar and Cowboy Grill, aside from Resorts World Manila. Meanwhile, Resorts World Manila management said in a statement that it asks those who performs to comply with all government regulations. Memorandum Circular Number 6 states that “the mere entry or presence of government officials and employees in a gambling casino shall be considered as conduct prejudicial to the best interest of the service, unless the same was in the performance of official duties and functions.” (Reporter.ph – ‘PCOO probes the issue of Mocha Uson’s performance at a casino hotel’ 08.09.2017, link: http://reporter.ph/pcoo-probes-the-issue-of-mocha-usons-performance-at-a-casino-hotel/).
PCOO disown Uson’s blog:
“PRESIDENTIAL Communications Operations Office Secretary Martin Andanar said Wednesday Assistant Secretary Mocha Uson’s blog was not an official page of the PCOO and was not representing government views. He cleared the PCOO from the controversies involving Uson’s weird and comical blogs. But he said Uson was not a source of fake news in the country as she was only expressing her views. He said the PCOO could not influence or control Uson since she was engaged in a personal activity. Should he order bloggers like Uson to stop airing their views, he would be accused of “suppressing freedom of expression.” He said when Uson became part of the PCOO, “I told her that all the news coming out from government media platforms are real news.” (Vito Barcelo – ‘PCOO disowns Mocha’s blogs’ 01.02.2018 link: http://thestandard.com.ph/news/top-stories/257655/pcoo-disowns-mocha-s-blogs.html).
Therefore, with all this mess of hers, the administration are still keeping her on board. That is just weird, because she is not that bright and misuse her public space. Not to inform, but keeping herself popular. That is evident, even as an appointed public official, she keeps peddling questionable articles, also even break codes of conduct like performing in a casino last year. That is why it is weird that she still has a place in the Presidential Communications Operations Office (PCOO) of the Duterte Administration.
That is just strange, for me awful idea to put her into the campaign, unless the Duterte Administration are going for squad goals and making sure they make scandalous headlines by her and her words? Is that what they need to be able to get the Constitutional Change or the Federalism enacted?
Do they need Mocha Uson, is she that unique and special that the President needs her skills and ability to create controversy to bring the game, set and go? Seriously? Is the change to federalism that lack-luster, that the Presidency see the need to bring her in? Is there nobody else that can campaign and bring the message out, not even demoted Alvarez?
Because we know she is not that wise, she has moved mountains and a volcano in the past. If she cannot even the basic geography of the Philippines, how can she explain and have the ability to grasp the difference between a constitutional democracy and federalism?
I have lack of faith, if she was like Maine Mendoza selling MAC products, I would get that, but she is trying to be spokesperson for a government, which plans to change of how the government works. That is not an easy task for anyone, but for someone like her. I lack faith, trust and ability to pull it off. Unless, she will push empty slogans and try to gain popularity because of her face. When it comes to a question like this, when it comes to the balances of power, the limits of the citizenship and what matters for all the branches of government, these questions are not a quick fix. However, a big question and need a lot of relief, this isn’t something changed in a day.
If the Duterte administration is serious and want people to believe in the change, maybe, just maybe, pull some better cards out of the stack. There got to be someone else with more craft and capacity to bring the message of federalism, than Uson. Peace.
“The love of money is corrosive. And sadly, the desire to make the easy kind by being imaginative and manipulative, corrupts absolutely. Stolen wealth does not make the thief respectable. Neither will the trappings of wealth mask [nor] cap the stink that thievery exudes. One day, justice will catch up with those who steal government funds. And when that day comes, it will be the public who will have its retribution” – Rodrigo Duterte extract from the State of the Union 2018 (23.07.2018).
Gloria Macapagal-Arroyo is lucky that she is out of prison and not serving more time for the scandals she has had in the past. The way power has evolved her and consumed her. So, that she got elevated to Speaker of the House yesterday before the State of the Union 2018. That is why I have to use an extract from the current President Rodrigo Duterte, who claims to fight corruption, but still have to keep her around. Even after all her scandals and public misuse of trust. She is the epitome of what Duterte are about to fight, unless it is just empty words.
I will show a few fragments of the “Hello Garci” Scandal, as that is the worst one, where she used the post-election time to rig the election in her favor. This was done with manipulated results from Mindanao by COMELEC Officials that she had appointed in the months before the election. That was deliberate activity to keep herself in power and get another term in office. There other scandals she has been a part of, but rigging yourself into power and misuse that trust should never be forgiven. As how can anyone trust her now?
These are just a few reports, who can wonder if she rigged herself into becoming the Speaker of the House yesterday to take the position from Pantaleon Alvarez. Duterte should remember what she has done and should impeach her, if he is legit about fighting corrupt people. As the Arroyo administration isn’t what he should be associated with. That is is if he wants to end in another light than her.
First comes an old report from COSCA, which states what PCAD reported about the elections, before a year later, what the Philippines Center for Investigative Journalism wrote in 2005 and what Ager wrote in Philippine Daily Inquirer in 2011. All of which explains different part of the scandal and shows the extent that Arroyo went too, to get a second term.
“According to members of the People’s Congress of Authentic Democracy (PCAD), our nation is in deep crisis because of the credibility of the electoral process has been totally undermined by the ease with which the Arroyo administration has used the whole bureaucracy and state resources to perpetuate itself in power” (Gregorio L. Quitangon – ‘RP in the midst of political and Economical Crisis’ September 2004, COSCA – Palaso Volume 1 Issue 5).
““He set up the infrastructure for cheating,” says Sen. Aquilino Pimentel, who has heard the “Garci” recording and who led the opposition protest against alleged vote rigging in the 2004 elections. “He was the operator for Gloria. He knew how the cheating was done in Mindanao and he manipulated the vote so GMA’s lead would not be less than one million.” In an interview with journalists on June 7, just days before his mysterious disappearance, Garcillano denied all these allegations and insisted it was not his voice on the tape. But several Comelec officials interviewed by the PCIJ as well as former Comelec chair Christian Monsod confirm it is indeed Garcillano’s voice that is in the recording” (…) “The wiretapped recordings, which start on May 17, 2004, a week after elections, and end on June 18, give little indication of Garcillano’s role during the election campaign and the actual voting. It is, however, a treasure trove for uncovering the postelection manipulation of the results. It is apparent from the conversations that Garcillano was the orchestrator, the conductor of a symphony of fraud, at least for Mindanao” (Sheila S. Coronel – ‘Master Operator’ 02.07.2005, Philippine Center for Investigative Journalism)
“Nagamura Moner told the Senate committee that he paid the election officers in some areas in Mindanao to change the results in favor of Arroyo. “What was the money for?” asked Senate President Juan Ponce-Enrile. “It was to pay the election officers…because at that time, the results of the counting showed that (Fernando Poe Jr) was winning by landslide,” Moner said. “You were bribing election officers?” Enrile asked again. “Yes your honor although I have not met them,” Moner said. Moner said a total of 400,000 pesos (US$9,300) was spent in Tawi-Tawi and 500,000 pesos ($12,000) in Sulu to change the results of the elections in these areas. Moner said he was tapped by then Philippine Ports Authority general manager Alfonso Cusi for the operation because his brother -in -law, Efren Bollozos, was working as manager of the PPA” (Maila Ager, Philippine Daily Inquirer, September 13, 2011).
She might won the case: [P.E.T. CASE No. 002. March 29, 2005] RONALD ALLAN POE a.k.a. FERNANDO POE, JR., protestant, vs. GLORIA MACAPAGAL-ARROYO, as the resolution claimed that Poe Jr. and Party hadn’t enough merit to claim rigging or election fraud. However, with the “Hello Garci” tapes have proven, what people knew and why the results from Mindanao took so long time to be verified. As the results was doctored to favor Arroyo’s administration. Therefore, she is not a righteous leader. Even if she has been released in 2016 after a few years in prison. She still, will be remembered for the cheating to stay in power. That is why it is weird to get her as Speaker in this time and day. People should never forget what she did and what she has done.
It isn’t like this story will end. Because this history will follow her. Arroyo will be remembered for her ways and what she has done in the past as a politician. It is not like the tally hasn’t changed.
When you as corrupt as you are known for stealing elections, you should be shunned from roles so high to power as the speaker. Arroyo shouldn’t be this high up, she should been under investigation or even barred from entering the premises of the august house. That is if there is justice in this world and someone aren’t more entitled than others.
Arroyo or GMA should have not fought for this position. Hopefully all her old sins gets into the public. Not only “Hello Garci”, but all the rest of them, also the victims of her extra-judicial killings in the early start of the millennium, that Human Rights Watch has written about back-in-the-day. All of this should pop-up in the atmosphere and she should answer for that. Not guide the August House. She got nothing to do there, except for entitlement. Peace.
There is again promise of ending the reign of Globe and Smart in the Telecom business. Theis has been a steady process. Before today’s announcement at the State of the Nation address in Parliament, the Duterte Administration offered the same promise last year, and the Duterte administration has proposed this before. Therefore, this isn’t new, but more about when and who want into the business. First, read the passage of today’s speech concerning the industry, second, seeing the ancient ordeal between the duopoly and third, the DICT proposed third company into the market.
“My administration remains firm in its resolve to ensure that the country’s telecommunications services are reliable, inexpensive and secure. A draft Terms of Reference for the entry of a new, major industry player is at hand. The terms will be fair, reasonable and comprehensive. It will be inclusive so it will be open to all interested private parties, both foreign and local. The only condition is that the chosen entity must provide the best possible services at reasonably accessible prices. However, our efforts to usher in a new major player shall be rendered futile if we do not improve its odds of success in an industry that has long been dominated by a well-entrenched duopoly. We shall, therefore, lower interconnection rates between all industry players. Not only to lessen the cost to the consumers as it will also lower the costs [for the] incoming player to access existing networks, [thereby creating] a market environment that is more conducive to competition. This is a policy which is crucial to ensure that our solution to our telecommunication problems will be both meaningful and lasting. In the last 2 years, experience has taught me that lack of consultation or insufficiency of information can, at times, lead to rash judgments. If and when I am unsure on the most appropriate course of action to take given the problem, it’s factual milieu and the desired end, I never fail to consult to discuss options with persons whom I trust and whose advise I value” (Rodrigo Duterte SONA 2018, 23.07.2018).
“Globe Telecom, Inc. was registered in the Securities and Exchange Commission in 1935. It claims to provide mobile and broadband services to 55 million people. The owners of Globe include foreign company Singapore Telecom (SingTel) and Ayala Corporation, with Jaime Zobel de Ayala as the company’s chairman. Smart, meanwhile, is wholly owned by Manuel V. Pangilinan’s Philippine Long Distance Telecommunication (PLDT) Company. It claims more than 68.9 million cellular and broadband subscribers. In his book Colossal Deception, How Foreigners Control our Telecom Sector, journalist Rigoberto D. Tiglao said the biggest controlling stockholder in PLDT is actually Indonesian mogul Anthoni Salim through his HongKong-based company First Pacific, where MVP sits as managing director and chief executive officer” (Reporters Without Borders – ‘PCC scrutinizes Globe, PLDT deal’, 2016).
“As previously reported by CommsUpdate, earlier this month Eliseo Rio, Jr said that the naming of the much anticipated ‘New Major Player’ (NMP) could take place by the end of September or early October this year, barring unforeseen setbacks. DICT published its draft terms of reference (TOR) for the selection of the NMP to challenge dominant players PLDT and Globe Telecom on 26 June. The selection process has been delayed for months – an original March 2018 deadline proved unrealistic – but DICT has now released details on how it plans to assign valuable 3G, 4G and potential 5G mobile frequencies to allow a newcomer to challenge the status quo. Pursuant to the above, DICT held public consultations on 6 July – a process that seemingly concluded that of those that expressed an interest in the selection process, 75% prefer a points-based allocation system, using the HCLoS method. Only 8% of potential bidders preferred the second set of draft rules which entailed auctioning the frequencies with a minimum bid of PHP36.58 billion (USD583.4 million)” (Telegeography – ‘DICT official throws support behind HCLoS to select third telco’ 17.07.2018).
It seems like the Administration is struggling to find someone who will find it profitable and even possible to breach the duopoly at this point. As the Smart and Globe owns the market and shares, they have the infrastructure and the means to control it. Therefore, they are nearly holding the same shares of the market and also the profits from the segments. Surely, many has both, as the black-outs and other forces them to have second sim-cards to secure their communications themselves.
Especially also with the strict ownership rules and regulations in the Philippines, plus the strength that Globe and Smart have, it will be tricky to gain profits at first. There are reports of China Telecom, ZTE from China and also Korean PT&T. But nothing of that is certain at this point and whoever it might be. Will have a challenge.
This will not just be about having a third competitor into the telecom market, but also coming in as a ugly step-child where two companies are ruling all supreme. Unless, they come with cheap and better services from day one and is able to deliver at a rate the other two cannot. Than, it might have a fix, if not it might be a risky investment and sold quickly to either of these. Peace.
Dear Honorable Sir, President Rodrigo Roa Duterte!
The reason why I write you, is because your misconception. Let me first allow you and say to you. Your allowed to say anything between the moon, the stars and the deepest sea-bed of the kingdom I reside in. President Duterte you can call Norway by all names of the book, say anything you want about or Prime Minister, about our traditions and even our strict-rules foreign workers to get visa. Please, talk about it. I have no trouble with it. It is a good thing to be questioned and get criticism from afar, from someone looking in and questioning our possible misgivings. We have loads of mistakes and things that is not working in Norway. Therefore, please address if you may, especially if you ever come to visit here, when you might resume the peace-talks with the red-army in Mindanao. Please, talk about our ways and politics. Feel free, Mr. President!
Now, that I have allowed you to do that, let me look into one of your statements, that Rappler has reported today!
“DAVAO CITY, Philippines – Critics are welcome to say all they want about his governance, but President Rodrigo Duterte said they have to make sure they’re not foreigners in his country. “Every Filipino is entitled to criticize me as a matter of right. Okay sa akin ‘yan (That is fine with me), but certainly not a foreigner, however holy you are. I will not allow [you] to do it in my country,” Duterte said in his speech on Saturday, July 7, at the inauguration of Malayan Colleges Mindanao in Davao City. He added, “After all, we’re not supposed to do it in your country.“” (Basa, 2018)
I don’t why your so bitter, so sour, and don’t know if foreigners ever hurt your pride and your vision. I understand that your battling belittling aid and donor loans, that trigger the Republic and the ways it has maneuver to get the grants and donations, where your state would be monitored and muffled with to get donations from abroad. That I get and that is more damaging, than even development. Where the donations would belittle you and your administration. That I respect and understand. But this here, I don’t get.
Why can they not question the government and say something about it? Why can’t I? I know I am not a citizen of the wonderful island republic of the Philippines. However, if there are misgivings, an outsider might have the balls to say it, while the insider might be afraid to lose the job or even not get hired again. Have you considered that? Did that cross your mind?
If a Filipino might address you wrong or even cross you badly, you might re-appoint someone else or even revoke their licenses? What about that then? You don’t have the same power over the foreign nationals inside the Republic. That also comes with the power of the state and the diplomatic disputes it might create. You got criticism for the sudden detention of the Australian Nun. That was to be expected, no matter she has done or what she hasn’t done. If she has broken the codes of entry or broken codes of law. It would be fine, but if she just was a vocal human being, then it is wrong.
So as I stated, President Duterte. Please say all the wrongs about Europe or Norway, as much as you please. Please call it out and call us ice-cold Vikings, who isn’t treating Filipino foreign workers well. Say it and than the diplomat’s can address it. We can carry it, but we hope you could extend the hand. Let people like me address you and understand why I do it.
It is healthy to have a conversation, to have people who looks with another view and with another perspective, than the narrative and the possible outcome might be better. The different views and the enriched discussion might lead to something fruitful and also give it another direction. Instead of being ignorant.
So, Please Mr. President do it in my country, if your ever has the chance, because it is healthy. We need conversations and perspectives to broaden our insights to life.
Writer of Minbane
Basa, Mick – ‘Duterte says he welcomes criticism, but not from foreigners in PH’ (07.07.2018) link: https://www.rappler.com/nation/206730-duterte-criticism-foreigners-philippines?utm_campaign=Echobox&utm_medium=Social&utm_source=Twitter#Echobox=1530968818
President Rodrigo Duterte has been under fire lately for his statements on the bible and the way the world was created in the holy scripture. He has also kissed a married South Korean lady on stage, while being on state visit in South Korea. So, there is never a dull moment in the life of Duterte. However, before be goes into to deep into the ignorance of faith and lack of understanding of gender equality from the President. Both deserves scrutiny. From I know, both has been discussed and also tarnished Duterte in Rappler and everywhere else. All of that is deserved. He should show respect to the faith and its origin, as well as other shows respect each other faith. Secondly, you should never misuse power to gain sexual advances, that is just wrong and should be condemned.
However, this piece is not about that, this is about how the man who has insulted bible and the other gender recently. Should be more careful with his words. When your discussing the stupidity of the bible. Maybe, should be more careful with throwing that around. That being said, he cannot be as wise, when all the economic signs of late is dire. There is nothing in the recent days and the collected effort that lights hope for the economic situation. These are all reports, that shows the signs of weaken state and also, needs of a serious boost. If they are planning to revive the Peso and the economy in general.
Philippine Statistic Authority on the 7th June 2018 states that from last year, the wholesale price of the well-milled rice has gone up by 6,63 %, the same commodity in the retailers has also risen in price, that has gone up 5,58 %. This is huge amount of money, when it is concerning the staple food, that most eats to every meal, every single day. That means the people are paying more for the same.
Heydarian writes on foreign investments in the Philippines: “During the first half of 2017, there was a 90% year-on-year drop in new investment pledges from $1.45 billion to $141 million. During Duterte’s first year in office, South Korean investments plunged by 93%, while American investment dropped by 70%. Meanwhile, the ranking of the Philippines in the global corruption index hit a five-year low in 2017. During the first quarter of 2018, new investment pledges dropped by 38% on a year-on year basis, reaching the lowest level since 2010” (Richard Heydarian – ‘More Duterte fallout on the Philippine economy’ 21.06.2018 link: https://asia.nikkei.com/Opinion/More-Duterte-fallout-on-the-Philippine-economy)
Xinhua states: “MANILA, June 19 (Xinhua) — The Philippines is planning to issue about 1 billion U.S. dollars worth of Samurai bonds this year, the country’s finance department said in a statement released in Manila on Tuesday” (…) “”This year, we are also planning to issue around 1 billion U.S. dollars worth of Samurai bonds,” Dominguez told Japanese businessmen. Dominguez did not give other details of the planned yen-denominated bond float in his speech, but he has said earlier that the government will proceed with it by September or October this year” (Xinhua – ‘Philippines plans to issue 1-bln-USD Samurai bond’ 19.06.2018, link: http://www.xinhuanet.com/english/2018-06/19/c_137265039.htm).
Bilyonaryo states this: “The peso has lost a big chunk or P3.29 over the last six months to 53.28 to $1 last week from 49.99 as of end-2017 making it the weakest currency in the region. Since Duterte’s entry in Malacanang, the peso has dropped 14 percent from 46.86 to $1” (Bilyonaryo – ‘PH peso is Asia’s worst performing currency; even Duterte admits economy in the ‘doldrums’’ 24.06.2018, link: http://bilyonaryo.com.ph/2018/06/24/ph-peso-is-asias-worst-performing-currency-even-duterte-admits-economy-in-the-doldrums/
There is a worry when the prices of rices goes up that, together with a weakened peso. Both are proving that imports of rice will be more expensive, and not only hit the consumers who needs to pay more for the same commodity. Combined with the losing interest of foreign investments, that short-fall is planned to be undermined by government bonds, which is state created short-term debt to cover the deficit created by the lack of investments. All of this is short-term efforts to cover the stop of funds from abroad. Adding more bonds, will also mature more of the previous bonds and add the collected debt of the Republic. This is not sound economics, but more punching more holes in the bag and hoping the rice doesn’t go out to fast.
The ones losing the citizens of Philippines who will pay for the economic progress or lack of thereof, with a weak currency, higher prices on staple food and also more state debt. That is why I want a President who creates all of that, to respect God a little bit more. Because he cannot be so wise, if he is in-charge of the rising prices of rice, devaluing the currency and adding more government debt. While doing so, scaring away foreign investors and trying to take out more debt to cover the shortfall. That is the only thing it looks like. When the government plans to add the same amount as they are losing in investments. This is a way of getting fresh funds and foreign currency into the market, but not generating more revenue directly.
Time for Duterte to get his focus straight, as KPMG states: “For example, even if government expenditures are below program, they will still be at magnitudes well above those in the past. Foreign grants help, but the country does not depend on them to grow today and those that it lost could be replaced with aid from other countries like China and Japan who are willing to give and are already doing so. At worst, these risks, if they occur, could bring GDP growth down to a still lofty six percent or so average in this decade. In summary, the Philippines will remain among the region’s fastest growing economies even if many of these risks were to occur and is on track towards significantly reducing poverty and strengthening the domestic market over the medium-term. The present leadership has smartly placed the stewardship of the country’s economy at the hands of well intentioned and bright managers bent on pursuing rational policies and carrying on from past successes” (IT Report: Philippines – 2018 Investment Guide by KPMG in the Philippines, P: 15, 2018).
So all hope aren’t lost, but the Philippines and the President should be aware of the policies put forward. They are risking the future, today as they are moving forward. The decisions made are vital and crucial for how the prices, inflation, growth and if the currency even will be worth something abroad. Even if some numbers are going up, all of them aren’t and some are more worrying. As the prices on food and others are rising to. So the growth is eaten up before it is felt, while the state isn’t acting within reason.
So please Duterte, look into the measures and into the economic landscape. Let the people of faith be and respect woman. Please start to look at some of the parts thta are not working. Find out the reasons why the Peso is weak, the rice more expensive and the foreign investors are not arriving. Government Bonds isn’t the solution, that is short-term fix, but not a steady economic policy, which would bring stability to the currency, rising inflation and the prices in general. Therefore, the value of the growth is lost in the deep dark hole of inflation, added prices and weak currency. Peace.