Jul 10
30
World Bank: Improving Finances in the Philippines to Soften Impact of European Debt Problems
The World Bank believes that public finances are improving in the Philippines. This domestic growth will help shelter the Philippines from the negative impact of looming economic problems in the European market.
MANILA, JULY 14, 2010–The European sovereign debt problems loom as a fresh threat to the global economic recovery but improving the Philippines’ public finances will strengthen the country’s economic defenses against its potential impact as well as improve government spending for pro-poor programs.
This is one of the main messages of the Philippines Quarterly Update (PQU) released by the World Bank.
Early this year, concerns about rising indebtedness in European countries has generated fears that the global economy might slide back to recession and cause further difficulties in developing countries like the Philippines. Read the rest of the story here.
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The other night while we were sitting in the living room, a woman came to the door. She spoke in Tagalog so I couldn’t understand most of what she said. I did pick out the word ‘sister’ though (as in a nun). Romy was in the other room so I called him over so he could translate. He then walked outside and I could hear them talking back and forth, speaking in Tagalog. She had an urgent tone in her voice.
Moments later Romy walked back inside and called for Aunt Elvie. After a couple minutes of dialogue, I saw the two of them grabbing rice and vegetables. Realizing what was going on I grabbed some of our bananas and bread and added it to the bag Romy was preparing. He then handed her the bag and they spoke once more in Tagalog and then left. Romy then turned to me and explained that she was looking for one of the nuns asking for alms. She hadn’t eaten all day and neither had her family.
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Philippine government officials are prioritizing the improvement of both traffic and flood control as the latest typhoon season begins. Many developing countries suffer from lack of public infrastructure to protect the poor in times of disaster. Last year’s flooding in the aftermath of typhoon Ondoy was a case in point. Of course, no nation or area, regardless of wealth, is immune to natural disaster. Yet these desperately needed improvements will save lives.
After yesterday’s turnover ceremonies at the MMDA headquarters in Makati City, Francis N. Tolentino, three-term mayor of Tagaytay City (1995-2004), said he has ordered a review of the Unified Vehicular Volume Reduction Program or number coding scheme and at the same time limiting exceptions, such as ambulances and the media.
Mr. Tolentino said flood control projects will be made more effective.
In a statement, Mr. Tolentino said his administration will involve the public in crafting new programs.
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