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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…
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)…
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…
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…
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…
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…
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…
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…
On Aug. 1, 2019, I retired from the World Bank. I hate to admit it, but my work was my safe haven for close to 25 years. I could have stayed for five more years, so it…
MANILA, Philippines — The World Bank on Thursday said it has approved a $100 million loan to aid the Philippines in its fight against the coronavirus disease (COVID-19) pandemic. The World Bank said the loan will be…
UNITED States — The World Bank on Thursday approved the first steps in a plan to roll out $160 billion in emergency aid over 15 months to help countries deal with the impact of the global coronavirus…
MANILA, Philippines — The COVID-19 pandemic will take its toll on economies across East Asia and the Pacific, and the Philippines was no exception given its reliance on tourism and trade, the World Bank said in a…
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