AFTER ALL
Behn Fer. Hortaleza
WHATEVER else you may ascribe the strong rally of the Philippine peso, to the remittances of Overseas Filipino workers (OFWs) or simple confidence of investors in the administration, the fact is it has now breached the P52-to-a-dollar rate and impressionistically closed last Friday at P51.91.
If it slides further to the P50 mark, surely we can all breath better. The peso’s purchasing power will have greatly increased and we can add a little something more to our shopping money or our marketing list.
Equities have also increased as Wilshire Associates upgraded the country’s credit scale from a 2 to 2.13 – the highest in the Asian region, so far, edging out Malaysia, China and India. That means the country can now call in those foreign businesses and investments, cut its big international debt interest and with some more luck, create more jobs for some 4 million Filipinos. Government acknowledges that OFW remittances did play a part in this now rosy outlook for Philippine economy but at the same time, the Central Bank governor and noted financial analysts attribute a good part of it to the bold fiscal reforms like the implementation of the Reformed VAT.
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THE PEN SPEAKS
Danny O. Sagun
DESPITE low popularity ratings, this administration has opted to implement the 12 percent VAT starting this month, which shows that the Malacañang lady occupant has the guts and the balls (how about that, since she’s a SHE?) to face the consequence of a hard decision. Her resiliency to stand up to crisis has been widely noted since the start of campaign to oust her. Why, she’s still there until now seemingly unperturbed!
On that point alone, she has outclassed the wily Marcos and the dapper Erap, who both fled at the start of hostilities.
She’s too big really for her size, perhaps even for Mike.
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WINDOWS
Gabriel L. Cardinoza
This week, Pangasinan will host some 5,000 athletes and sports officials who will be participating in this year’s Private Schools Athletic Association national games.
In the 53-year history of the PRISSA, this is the first time for the national games to be held in the province. “Maybe, they didn’t believe we can host a big event like this,” said former Vice Gov. Gonzalo Duque, now president of the Lyceum Northwestern University.
In fact, he added, he had offered the province to the PRISAA board as a national games venue three years ago. But it was only last year — during the PRISAA games in Zamboanga City — that the board finally considered his proposal and agreed to have the games here this year.
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