The World Bank said the Philippine government’s debt load remains manageable despite recent acceleration amid the prolonged pandemic. Even it has ballooned, Kevin Chua, World Bank senior economist noted that the government’s debts are mostly held by Filipino creditors, long-dated IOUs and...
The Philippine economy is poised to grow at a much slower pace than government’s target this year due to intensifying global uncertainties, the World Bank said on Wednesday, June 8. Based on World Bank’s Philippine Economic Update June 2022 edition, the Washington-based lender projected that...
A World Bank study recommending reforms in the Philippine Crop Insurance Corp. (PCIC) has found that the state-run firm’s current approach to agricultural insurance neither provides value for money to taxpayers nor adequate protection to farmers. The PCIC is also “very exposed to catastrophe...
The Duterte administration has sealed 22 loan agreements with the World Bank Group (WBG) in the past five-years, bulk of which were used to help finance to country’s war chest against the Covid-19 pandemic, the Department of Finance (DOF) reported. In a statement on Monday, April 25, Finance...
Noting that the Filipino commuters are suffering because of the inefficient public transportation system in Metro Manila, human rights lawyer Chel Diokno on Tuesday, April 19, questioned the government’s slow implementation of the bus rapid transit (BRT) project in Metro Manila that could’ve...
The World Bank has slightly downgraded the Philippines' gross domestic product (GDP) outlook for 2022 from 5.8 percent to 5.7 percent, falling further below the Duterte administration's target of seven to nine percent due to external risks. In its East Asia and Pacific Economic Update released...
Senator Sherwin Gatchalian on Monday resounded the alarm over the negative impact of the prolonged school closures to a Filipino child’s learning skill as he pressed the need to open all schools for limited face-to-face classes and implement a learning recovery program. Gatchalian made the call...
The government was awarded a $52.5 million payout for losses the country suffered due to Typhoon Odette, the Department of Finance (DOF) announced on Tuesday, Jan. 25. Many Filipinos affected by Super Typhoon Odette are still in need of help up to this day In a statement, the DOF said the...
The World Bank has remitted to the Bureau of the Treasury the government’s loan for disaster relief and rehabilitation in Typhoon Odette-hit areas, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said on Tuesday, Dec. 28, that the national government received from...
The Department of Finance (DOF) will draw this week $80 million of the World Bank’s standby loan extended to the Philippines to support the national government’s disaster relief and rehabilitation efforts in provinces devastated by Typhoon “Odette.” Finance Secretary Carlos G. Dominguez III...
The Philippines has secured a fresh loan from the World Bank to fund the purchase of additional doses of coronavirus disease 2019 (COVID-19) vaccines needed for booster shots. The Washington-based multilateral institution announced on Wednesday, Dec. 22, the approval of the government’s...
The Department of Finance (DOF) is planning to tap the World Bank disaster response loan to fund the rehabilitation efforts in Typhoon Odette- affected areas. Finance Secretary Carlos G. Dominguez III said they will activate the $500 million in contingency loan from World Bank that the government...
