The Philippines has secured another loan from the World Bank to finance a new project that aims to improve selected government buildings in Metro Manila and strengthen the capacity of the Department of Public Works and Highways (DPWH). In a statement, the Washington-based financial institution said...
The Department of the Interior and Local Government (DILG) commended on Wednesday, June 2, the House of Representatives for the passing in the third and final reading some key amendments on the economic provision of the 1987 Constitution. “We congratulate Speaker (Lord Allan) Velasco for proving...
Transportation costs for crops will be drastically reduced once the 4.9-kilometer agricultural road carved atop the mountainous municipality of Banaue in Ifugao is completed, the Department of Agriculture (DA) said. CARVED OUT OF THE MOUNTAIN-- The 4.9-kilometer Viewpoint-San Fernando...
The United Nations (UN) in the Philippines and the United States Embassy in Manila welcomed the delivery of more than two million doses of AstraZeneca vaccines to the Philippines under the COVAX facility, the international partnership established to ensure equitable distribution of COVID-19...
The Anti-Red Tape Authority (ARTA) vowed to double its efforts to further make positive changes in the Ease of Doing Business (EODB) situation in the country as the agency cited the Philippines' continued performance in the said arena. ARTA ARTA Director-General Jeremiah Belgica made the statement...
75 YEARS OF PH-US RELATIONS The US government has committed to continue extending economic assistance to the its ally the Philippines in the form of grants for infrastructure projects, investment insurance coverage, technical and sustainability assistance as both countries marked their 75...
The World Bank-funded modernization project of the Bureau of Customs will align the agency’s processes and standards with the world’s best and most efficient customs services, the Department of Finance (DOF) said. In a statement, Finance Secretary Carlos G. Dominguez III said on Friday,...
Moody’s Analytics says International economists have sounded the alarm over the Philippines’ economic situation as the World Bank said the nation is suffering a triple whammy blow from the COVID-19 pandemic, while Moody’s Analytics describes the unfolding events in the country as...
Two Philippine cities — Quezon City and San Fernando City — have been cited for their waste recycling collaboration with informal waste pickers that helped stymied poverty as recycling creates jobs in their localities and supports the recovery amid the economic difficulties during the pandemic,...
Developing countries in East Asia, including the Philippines, need to support innovation to promote productivity growth and economic progress, a new World Bank report revealed. While developing countries in East Asia have an impressive record of sustained growth and poverty reduction, World Bank...
WASHINGTON (AFP) - The World Bank on Tuesday downgraded its outlook for the global economy, and warned the situation could deteriorate if Covid-19 infections accelerate or the vaccine rollout is delayed. The coronavirus pandemic also has worsened the risks surrounding the rising debt load in...
Debt service burden down 8% The Philippines will continue to have a strong debt sustainability position and will remain comfortably way below what the Bangko Sentral ng Pilipinas (BSP) considers a danger threshold even as the country borrow more from foreign sources to fund COVID-19 vaccine...
