‘Lack of budget’ hounding Cebu BRT’s fate – World Bank

Morexette Marie B. Erram 07/05/2022

CEBU CITY, Philippines – The fate of the long overdue Cebu Bus Rapid Transit (BRT) remains in limbo nearly a decade after it was granted multi-million dollar loans to fund its construction. The World Bank, in a…

PH borrows another $810M from WB

Ben O. de Vera 10/18/2021

Three forthcoming loans to be extended by the World Bank (WB) to the Philippines totaling $810 million will aid in pandemic recovery and building resilience against natural disasters as well as improving the education sector, the Washington-based…

Cebu City expects IRA of P3.2B in 2022

Delta Dyrecka Letigio 07/06/2021

CEBU CITY, Philippines — Cebu City expects a larger internal revenue allotment (IRA) from the national government in 2022 as the Mandanas Ruling by the Supreme Court takes effect. The Mandanas Ruling increases the share of national…

Palace finds it ‘disturbing, alarming’ World Bank report on Filipino students

Krissy Aguilar - Reporter / @KAguilarINQ 07/01/2021

MANILA, Philippines — A World Bank report stating that most Filipino students “do not know what they should know” in school is “disturbing” and “alarming,” Malacañang said Thursday. In a press briefing, presidential spokesperson Harry Roque assured…

So much for sound fundamentals

Solita Collas-Monsod - @inquirerdotnet 06/19/2021

One realizes that our economic managers—nay, the whole administration—must always cast things in their most positive light. That’s part of the job. With the COVID-19 pandemic, this has become much more of a challenge. And the coming…

Why we are again the sick man of Asia

Solita Collas-Monsod - @inquirerdotnet 06/12/2021

Reader, look at any recent analysis of the economic performance of countries in the time of COVID-19, the World Bank’s, for example—and you will find, unambiguously, that the “economic performance across countries continues to depend on (i)…

DOF: COVID-19 vaccine loans only P58.5 billion

Ben O. de Vera - Reporter / @bendeveraINQ 03/21/2021

MANILA, Philippines — The Department of Finance (DOF) on Sunday reiterated that multilateral loans in the pipeline to buy COVID-19 vaccines only amounted to $1.2 billion or about P58.5 billion to date, contrary to a senator’s erroneous…

PH ‘sinking deeper and deeper’ into debt

Ben O. de Vera - Reporter / @bendeveraINQ 02/06/2021

MANILA, Philippines — As presidential spokesperson Harry Roque Jr. wished rigor mortis on critics of the Duterte administration, the country’s economic managers scrambled to stop the economy itself from “sinking deeper and deeper” as President Duterte himself…

PH raises to $500M requested loan from WB for advance vaccine payments

Ben O. de Vera - Reporter / @bendeveraINQ 02/04/2021

MANILA, Philippines—The Philippines has further raised to $500 million (about P24 billion) the loan it is requesting from the World Bank for coronavirus vaccines as more funds were needed to pay vaccine makers at least half in…

When gov’t ignores its own plan

Solita Collas-Monsod - @inquirerdotnet 12/12/2020

The World Bank launched earlier this week its Philippine Economic Update, entitled “Building a Resilient Recovery.” One of its key findings was that the country’s GDP will likely shrink by about 8.1 percent in 2020. That implies…

A P1.84-trillion loss—due to gov’t bungling

Solita Collas-Monsod - @inquirerdotnet 11/28/2020

What has the country lost to COVID-19? This column will not deal with the number of deaths (8,242), or the number of cases (424,297), or translate these into all sorts of indicators, like number of work days…

$4B in additional loans for COVID-19 response underway

Ben O. de Vera 08/28/2020

At least a dozen more loans worth a total of $4.02 billion (over P195 billion) will be secured by the Philippines this year and in 2021 to finance response to and recovery from the health and socioeconomic…

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