Only representatives from three government agencies – Department of Finance (DOF), Department of Budget and Management (DBM), and Department of Justice (DOJ) – will have the final say on how the Coconut Farmers and Industry Trust Fund (CFITF) will be managed and use. Based on the Republic Act...
The Bangko Sentral ng Pilipinas (BSP) reported Monday that gross international reserves (GIR) dipped to $108.799 billion in January from December 2020’s $110.117 billion due to government withdrawals to pay for foreign-denominated loans, and changes in the price of gold. The BSP in a statement...
The stock market weakened as investors continued to pocket gains while waiting for more cues to buy up stocks. Photo credit: https://www.pse.com.ph The main index dropped 31.8 points or 0.45 percent to close at 6,959.21 with only the Financials and Mining and Oil counters holding their...
The National Economic and Development Authority (NEDA), the country's chief economic development planner, said the country needs to strike a better balance in managing the health and economic threats, particularly in Metro Manila where almost a quarter of its population suffer from hunger. Acting...
The Philippine government is eyeing a way bigger minimum access volume (MAV) allocation, or about 388,790 metric tons (MT), for pork. This is just one of the proposals of the Department of Agriculture (DA) in terms of addressing the shortfall in the supply of the commodity as well as bring down its...
Finance Secretary Carlos G. Dominguez III has assured full support to the Department of Education’s (DepEd) efforts to ensure that Filipino learners continue their schooling despite the challenges brought by the coronavirus pandemic. MB file Dominguez said the DepEd's blended or hybrid learning...
The Bangko Sentral ng Pilipinas (BSP) said it has fully awarded its 28-day bills offered at P100 billion. The BSP securities auction received P162.80 billion tenders on Friday, lower than January 15’s P167.25 billion bids. The BSP bills fetched a lower average rate this week of 1.6362 percent...
The World Bank has approved two loans to the Philippines to support the country's recovery efforts from the coronavirus pandemic, improve competitiveness, as well as build resilience against shocks and natural disasters. In a statement, the Washington-based lender, said it approved $900 million...
The Asian Development Bank (ADB) downgraded its growth forecast for the Philippines as the nation struggled in containing the coronavirus outbreak that hampered economic recovery. Based on ADB’s Asian Development Outlook update, the Manila-based multilateral institution has projected that the...
The Philippines got the lowest coupon ever after raising $2.75 billion from the global bond market, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “The Philippines set a record for lowest coupon levels,” said Diokno on Thursday. The ROPs sold have maturities of 10.5...
The Department of Finance (DOF) ordered the Department of Trade and Industry (DTI) to return to the government coffers the P32.6 billion sitting idle in the state-owned Philippine International Trading Corp. (PITC). In a statement, Finance Secretary Carlos G. Dominguez III said he has...
Finance Secretary Sonny Dominguez (NTF AGAINST COVID-19 / MANILA BULLETIN) The Department of Finance (DOF) urged the chief executives of local government units (LGUs) to borrow money to bankroll projects that would help the country recover from the coronavirus-induced global economic crisis....
