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Philippines: Redeeming the time

Philippines: Redeeming the time
© Provided by BusinessWorld
Last Wednesday’s broadsheets quoted Vaccine Czar Carlito Galvez, Jr. warning the Filipino public “to brace for another surge in COVID-19 infections by June or July.” This sounds good, but it could also be bad.
How Secretary Galvez came to this conclusion escapes us. However, this is a good indication that a sense of anticipation has finally dawned among our health authorities. All we need to see is decisive action to be fully convinced. He could not have said it better: “We have to expect the worst when we are planning something and we are now preparing for it. Until such time that there is a definite cure for COVID, that is the time that we will see what we call economic recovery.” ....

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Peril of divergent economic recoveries for the Philippines

Peril of divergent economic recoveries for the Philippines
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

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Peril of divergent economic recoveries for the Philippines

B
usinessWorld reported last Wednesday that Finance Secretary Sonny Dominguez announced the National Government’s plan to “tap the US bond market before rates skyrocket.” Secretary Dominguez did not elaborate during his interview with Bloomberg Television’s Kathleen Hays but in the congressional hearing in August 2020, the Government disclosed its plan to raise some P3 trillion or $62 billion from both domestic and international sources.
It would be a smart move for the Government to return to the US capital market but it should do it fast. The Philippines had impressed investment bankers and fund managers before the pandemic with, one, its excellent record of undertaking policy and structural reforms that has endured for 25 years; and, two, positive macroeconomic outcomes. Our past fund-raising activities were always capped by tight spreads and oversubscriptions. ....

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A foreshadowing of 2021? | BusinessWorld

A foreshadowing of 2021? | BusinessWorld
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

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Exit strategy for monetary policy | BusinessWorld

By Diwa C. Guinigundo
Before the end of 2020, columnist professor Tyler Cowen in Bloomberg Opinion wrote that “it is not likely that the next major macroeconomic problem will be inflation.” At least in the US, he argued that inflation “has come in the form of lower quality, not higher prices.” His illustrations were very interesting. While schools have not increased their tuition fees, students are challenged by on-line learning. Getting treatment in a hospital or eating in a restaurant is more often than not accompanied by fear and inconvenience.
We can relate to these American experiences. They are very real in the Philippines. However, there is another side to Cowen’s argument. Other economists like University of Michigan’s Justin Wolfers, writing for ....

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