Peso sinks past P52:$1 level for the first time since 2019, stoking inflation fears

The STAR / Miguel de Guzman, File photo

The last time the local currency traded at this level was back in September 2019, when the government’s ambitious infrastructure program pushed up demand for the greenback amid heightened importation of construction materials.

Ramon Royandoyan - Philstar.com

MANILA, Philippines — The Philippine peso dropped past the P52 barrier for the first time since 2019 on Monday as Russia’s invasion of Ukraine continued to prop up the US dollar, triggering inflation concerns amid already high oil prices.

The local unit shed 44 centavos from its previous finish to close at P52.18 against the greenback. Its worst showing for the day was at P52.19 versus the dollar.

Inflation steadies in February despite high oil prices

The last time the local currency traded at this level was back in 2019, when the government’s ambitious infrastructure program pushed up demand for the greenback amid heightened importation of construction materials.

As it is, the peso is trading within the Duterte administration’s P48-P53 average forecast for this year. The currency has fallen by 2.3% since the beginning of 2022.

Emerging market currencies like the peso have been one of the economic casualties of the ongoing war in Ukraine amid investor concerns over the escalating conflict in Europe which has sent global oil prices rallying to multi-year highs.

Worsening the capital flight was Federal Reserve Chair Jerome Powell’s statement last week that the US central bank may begin tightening this month. At home, dollars traded on Monday amounted to $1.6 billion from $793.2 million previously.

For Nicholas Antonio Mapa, senior economist at ING Bank in Manila, the currency slump could create a big problem for Filipino consumers. This, Mapa said, may force the Bangko Sentral ng Pilipinas to lift rates sooner even as it wanted to sustain its ultra-loose monetary policy for much longer to nurture a nascent economic recovery.

"Peso weakness will likely fan even more imported inflation. Inflation expectations also now becoming disanchored as the Bangko Sentral ng Pilipinas retains dovish tone amid a hawking Fed and now skyrocketing energy prices,” Mapa said.

“Case for BSP to hike to corral runaway inflation expectations cannot be more apparent,” he added.

Sonny Africa, executive director for nonprofit IBON Foundation, agreed with Mapa. "Half our energy comes from oil and virtually all our oil is imported so a falling peso greatly increases our oil bill and worsens inflationary pressures. Recovery will be even slower with accelerating inflation," Africa said in a text message. 

"Rising prices will dampen consumption spending already depressed by high joblessness and low incomes, and make it even harder for struggling businesses to stay afloat much less expand. Overseas remittance-receiving families will at least see some gain but this will likely not be enough to offset lockdown-driven depressed incomes across so much of the economy," Africa added.

Always be sincere in prayer

By Fr. Roy Cimagala *

WE have to be wary of the danger to turn our prayer into mere babble of words. Christ pointed this out when he said: “In praying, do not babble like the pagans, who think that they will be heard because of their many words.” (Mt 6,7)

To be sincere in our prayers, we need to review the crucial relationship between God and our capacity to stick to the truth or to be sincere. Nowadays, with the plethora of data and information, we have to remind ourselves constantly that truthfulness or sincerity is not a matter of simply confirming these data and pieces of information to our own designs. We need to process these raw data to leaven them with the love of God and submit them to God’s will.

To put it bluntly, we can only be in the truth when we are with God. Outside of him, let’s wish ourselves sheer luck, because the most likely thing to happen is to slip from the truth. It's like chasing the wind. For all the excitement and advantages a Godless pursuit of truth gives, everything will just turn out to be vanity.

And so, prayer is a must. It’s what vitally, existentially unites us with God. Without it, we will just be on our own, an easy prey to our own weaknesses, let alone, the temptations around.

Very vulnerable to the temptation to distort the truth and to fall into the tricks of hypocrisy and pretension are persons endowed and favored with all sorts of talents, intelligence, position, power and who may already have attained a good level of sanctity. That’s because their situation attracts all sorts of temptations.

We have to be more aware of this phenomenon and be able to handle it. Even Christ himself was tempted by the devil to deviate from his Father’s will. And the devil employed the subtlest of tricks, even quoting Scripture, to bend Christ to the devil’s will. The devil will always reserve the worst strategy to those who dare to get close to God.

Thus, those of us who try our best to follow God should not be surprised when the most “irresistible” temptations come to us not only from time to time, but even persistently. We somehow should expect this thing to happen, and be ready for it.

One gauge that can tell us that we have a good prayer, one where we truly have an intimate encounter with God, is when we come out of it burning with zeal for love and concern for the others. Somehow we would catch the fire behind these words of Christ: “I have come to bring fire on the earth, and how I wish it were already kindled!” (Lk 12,49)

Yes, real prayer has that effect. If, on the contrary, we come out of it just thinking of our own selves, or worse, feeling low and dry, then we are not actually praying. Prayer will always sharpen our mindfulness and thoughtfulness of others. We would be willing to suffer for them, helping them bear their burdens.

Prayer is by definition an act of love. And love in turn is always self-perpetuating. It never stops giving itself to God. As St. Francis de Sales would put it, “The measure of love is to love without measure.”

And because of our love for God, then our prayer which is an act of love for God will always lead us to love others. That is always the trajectory of a true, love-inspired prayer. Its vertical aspect never leaves behind the horizontal aspect.

* Chaplain Center for Industrial Technology and Enterprise (CITE), Talamban, Cebu City

Email: roycimagala@gmail.com

LIFE BRIDGES

 "If you are good at building bridges, you will never fall into the abyss!" said Mehmet Murat Ildan. Understanding is the bridge between two minds; love is the bridge between two souls.

We are all bridge builders during our whole life. I am not talking about the raised platform on a ship or a bridge mounting for false teeth or, as in the bony part of the nose. I am talking about spiritual bridges establishing connections between us and other people - or, between God and us.

Another elementary example is the "birthday bridge" or the turn to the year, that takes us from the old into a new period of life. A very important bridge in life takes people to me and me to people. It does not matter if our skin is black or white, if we are rich or poor, man or woman, being sad or happy.

So obvious our daily life is that we might even forget simple things easily. Self-esteem, respect and freedom from anxiety are the necessary and conclusive foundations for this kind of bridge.

Earl Nightingale discussed topics with regards to human character development and behaviors. He was known for his deep voice and clear diction. He was the voice of 'Sky King', which was a radio adventure series.

Nightingale also co-authored a book called 'The Strangest Secret' which is considered to be one of the greatest motivational books of all time. Earl Nightingale's 'Our Changing World’ was a five-minute radio commentary program which spoke about personal development.

Every person experiences a struggling period in their lives where they learn, and understand the wonders of life precisely.

“Your problem is to bridge the gap which exists between where you are now and the goal you intend to reach”, Earl Nightingale describes the significance of the bridge and how it helps one to travel through the hard phase of our lives. The bridge is a path and a direction that motivates us to move towards enlightened life.

What comes out from dark times is a whole new person who has risen up and has crossed the bridge for a brighter world. Try to be a rainbow in someone's cloud.

Small but important bridges every daily - how easily are they to be built: gestures of love - like a medicine; a handshake together with commendation and praise, encouraging words, a warm smile, instead of a superficial "How are you?" and the expected "Fine" or "OKAY LANG!".

Allow me to say it clearly and directly to the point: Separations result from crumbled or fit for demolition bridges. Destroyed spiritual bridges can be found at any corner. Look into your neighbourhood or, don't drive away and repress this topic in your family. Insignificant trifling matters, minor arguing, misinterpretations, results in silence - and after the destroyed bridge follows an invincible wall not only between estates but also in the hearts and minds of stubborn human beings. Men as well as women build too many walls and not enough bridges.

I was born and grew up together with my parents in a parish house. Up to the time of my active performances - among many other things - I did learn this: 

"Build your own bridge to God and never doubt in Him. Always remember His promise. When a rainbow appears, it confirms His proximity and neighbourhood and His faith. God's unique bridge, a rainbow, is always there and durable, long lasting and solid. The main bridge, which affords passage to God, is the institution "church".

In three words I can sum up everything I've learned about life: it goes on.

Return to office

Coverage by Jeline Malasig, Philippine Star

If you asked the Trade chief, he would not recommend employees to continue working from home under the loose pandemic restrictions, citing the need to stimulate the economy.

When more people return to their offices, they "will stimulate spending because there are more opportunities to spend going to work and going home," Trade Secretary Ramon Lopez said.

Old normal: While the message on the need to recover economically from the pandemic, there was no mention of the billions of pesos in lost productivity on a daily basis due to road congestion and poor public transportation.

Filipino workers who have seen the benefits of remote work in the past two years expressed worry about commuting costs and hassles, long hours spent in traffic jams and poor workplace ventilation.

 

Public transportation is now allowed to accommodate up to 100% of its capacity, but vehicles and train units' conditions have had to force operators to regularly cram passengers and exceed capacity allotment.

 

Many are supportive of "hybrid" work arrangements. "There are jobs that really need to be done in the workplace, but it’s time for our country to evolve for different setups in working," an employee said.

116 Filipinos remain in Ukraine; 200 seafarers stranded in Black Sea

POLAND. Displaced persons carry belongings as they walk to a border crossing in Medyka, Poland, Thursday, March 3, 2022. More than 1 million people have fled Ukraine following Russia's invasion in the swiftest refugee exodus in this century, the United Nations said Thursday. (AP)

By THIRD ANNE PERALTA-MALONZO, SunStar

OVER a hundred Filipinos are still inside Ukraine, while 200 Pinoy seafarers have been stranded in the Black Sea amid the Ukraine-Russia conflict, an official from the Department of Foreign Affairs (DFA) said on Friday, March 4, 2022.

DFA Undersecretary Sarah Lou Arriola said 31 land-based Filipinos in Ukraine, including 21 seafarers, have already made their way out of Ukraine and awaiting their flight to the Philippines in Romania.

She said there were also 15 Filipinos from Ukraine in Hungary and nine in Austria.

Arriola said 116 Filipinos are still in Ukraine, including those who are married to Ukraine nationals and refused to evacuate. Forty-five of them were in Kyiv, the country’s capital.

She said the DFA has accounted a total of 209 Filipinos in Ukraine.

She said some of the Filipinos refused to leave due to their work in humanitarian and security organizations, which the country needed the most now.

"We're giving them care packages and financial assistance but we’re really asking them to please leave because the problem is the fighting is getting to be more intense," said Ariolla.

“And what we're afraid of is if the train stops operating, there's no other way to get to Lviv. But we understand some can’t leave because they have their families there,” she added.

She said according to the record of the Philippine Overseas Employment Administration, around 200 Filipino seamen were stranded in the Black Sea, which lies in the northern portion of Ukraine and northeast of Russia, and in several ports in Ukraine.

Arriola said ships are more careful in sailing after two cargo vessels were hit by explosions caused by the Russian invasion.

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“If there’s really heavy fire, the only thing they can do is hunker down and take cover because the one who might extract them might get killed or if they leave the ships they might also get hurt,” she said.

The DFA earlier said 19 Filipinos from Ukraine have already arrived in the country since February when the conflict began.

4 Mindanao HUCs deescalated to ‘low risk’ status for Covid-19

 

SunStar Davao File

By THIRD ANNE PERALTA-MALONZO, SunStar

THE cities of Davao, General Santos, Iligan and Zamboanga City in Mindanao have deescalated to low risk classification for coronavirus disease (Covid-19), Octa Research fellow Dr. Guido David said on Thursday, March 3, 2022.

David said the four cities are now under low risk classification after they were classified as moderate risk on February 22, 2022.

Other highly urbanized cities (HUCs) in the region, including Butuan and Cotabato, maintained their low risk classification, while Cagayan de Oro remained under moderate risk with a still high positivity rate at 12 percent.

David said Davao’s average daily attack rate (Adar) went down from 2.86 on February 22 to 2.24 on March 2, but it is still under moderate risk, while its reproduction rate slightly declined to 0.27.

The healthcare utilization rate (HCUR) also slid down to 28 percent, while its positivity rate went down to five percent, the standard set by the World Health Organization.

A five percent positivity rate indicates the low transmissibility of coronavirus in an area.

Cotabato City’s HCUR and positivity rate are at low risk at 32 percent and four percent, respectively.

The positivity rates in General Santos City and Iligan City are also still at high risk at 15 and 18 percent, respectively.

Butuan has a seven percent positivity rate, while Zamboanga City has eight percent.

In Visayas, the cities of Cebu, Mandaue, Ormoc, Tacloban and Lapu-Lapu are under low risk, while Iloilo is still under moderate risk.

Of the HUCs in Visayas, Mandaue has the lowest positivity rate at one percent, followed by Tacloban at three percent, Bacolod at four percent and Cebu and Lapu-Lapu at five percent.

The positivity rate of Ormoc is at high risk at 17 percent.

In Iloilo, the Adar is at 7.85, HCUR at 54 percent and positivity rate at 10 percent. Its reproduction rate is at very low risk at 0.42.

Of the HUCs in Mindanao and Visayas, Bacolod, Zamboanga, Cagayan de Oro and Davao were deescalated to Alert Level 1, the lowest quarantine status in the country amid the Covid-19 pandemic.

The other HUCs have remained under Alert Level 2. (SunStar Philippines)

How to deal with temptations

By Fr. Roy Cimagala *

IT’S intriguing to note that Christ allowed himself to be tempted by the devil. (cfr. Lk 4,1-13) Although we can presume that the devil would have no chance to succeed in his effort, Christ must have allowed this event to happen to teach us how to deal with temptations which are unavoidable in our life.

Given our human condition, and especially when we enjoy some privileges and other special endowments, we have to realize that we would be a favorite target of the schemes of the devil. We need to be prepared for this lifelong condition of ours.

Whatever good thing we have in life has to be handled most delicately, with great humility. In other words, it always has to be related to God from whom all power and authority on earth comes. (cfr. Rom 13,1) It should be exercised always with God in mind and in heart. Otherwise, there is no way for it to go other than to be abused. Let’s remember that the only thing we are capable of doing without God is to sin.

To know how to exercise whatever power and authority we have according to God’s will and mind, all we have to do is to look at Christ, imitate him and unite ourselves to him. 

Christ, who is the origin and seat of all power, exercises that power with great humility, with justice, charity and mercy. His attitude toward his power is expressed in these words of his: “The Son of Man did not come to be served, but to serve, and to give his life as a ransom for many.” (Mt 20,28) That is the attitude we ought to have toward any power we have. Only then can we exercise our power properly.

We should never forget that only with God can we properly deal with our own weaknesses, and the many temptations and sins around. Only with him can we manage to resist the devil himself. Without him, we are easy prey, a sitting duck. Our earnest desire should be how we can be with God always, our union with him as strong and vibrant as ever.

Let’s not forget that if our first parents, still in their state of original justice and therefore in theory should have been in close union with God, managed to sin, how much more we who are already born with original sin and whose lives here on earth will always be hounded by all forms of evil!

In the case of our first parents, we know that in spite of their very good condition, there was a moment when they failed in the proper exercise of their God-given freedom and chose to listen to the devil rather than to remain faithful to God. And so they fell.

We have to understand that without God, the proper exercise of our freedom would be out on a limb, and it would just be a matter of time before we fall into sin. It is that automatic. We would have no sufficient defenses against our real enemies. We may even think that our enemies are our friends and allies.

We should never forget that our freedom is a very intoxicating endowment God has given us. It should only be exercised with God as its beginning and end. Otherwise, we will only misuse and abuse it and lead us to sin. We should constantly make the effort to choose God instead of what we simply like by ourselves.

* Chaplain Center for Industrial Technology and Enterprise (CITE), Talamban, Cebu City

Email: roycimagala@gmail.com

DOT's Puyat expects more visitors as virus restrictions ease

by Waylon Galvez, Manila Bulletin

With the implementation of more relaxed health protocols to combat the coronavirus disease (COVID-19), Department of Tourism (DOT) Secretary Bernadette Romulo-Puyat is optimistic that more travelers will be encouraged to visit different tourist destinations in the country in the coming months.

Boracay, arguably the crown jewel of Philippine tourism. (Laimonas Keseriauskis/ Unsplash)

According to Puyat, the Philippines is the first country in Asia to accept fully vaccinated foreign travelers and under the guidelines, the country is no longer implementing quarantine procedures.

“We are proud to say that our entry requirements are delivered in a simple format, without the need for facility-based quarantine primarily for fully vaccinated visitors. Tourists are allowed to travel to all reopened tourist destinations in the country as long as they comply with the requirements from the local government units with jurisdiction over these areas,” Puyat said Thursday, March 3.

Under the guidelines of the Inter Agency Task Force on Emerging Infectious Diseases (IATF-EID), the government has approved the entry of foreign nationals and returning Filipinos who wish to visit tourist destinations since Feb. 10.

The travelers, however, must be fully vaccinated from visa-free countries. Puyat said that tourist arrivals since then have been gradually picking up and the DOT looks forward to an uptick during the summer season starting this Holy Week break in April.

As of February 28, the number of international tourist arrivals has reached 47,715, of which 26,306 were foreign visitors and 21,409 were balikbayans or returning Filipinos from abroad.

Those travelers with full vaccines from visa-free countries listed under Executive Order 408 are no longer required to undergo quarantine as long as they are able to present a negative RT-PCR result.

In late February this year, the United Nations World Tourism Organization (UNWTO) and the World Health Organization (WHO) called for the lifting of travel bans, stating that they do not provide added value and continue to contribute to economic and social stress.

The tourism department has been proactive in making proposals to the IATF that would balance the recovery of the sector and the restoration of jobs in the tourism sector without compromising the health and safety of the workers and visitors.

Along with the goal toward sustained recovery, Puyat has high hopes to yield stronger programs and partnerships with other tourism ministers and global leaders as the Philippines will host the World Travel and Tourism Council (WTTC) global tourism summit in April.

“We only want what is best for the sector. This hosting of the WTTC Summit will benefit the country by showcasing what the Philippines can offer to the world,” said Puyat.

“More than the recognitions we received over the past years, our goal is to restore jobs and revenue streams for our tourism workers and stakeholders,” she added.

Back to school: This time, it’s for real

Published March 3, 2022, 12:05 AM

by Manila Bulletin

Don’t let the title of this editorial fool you. Online classes, of course, are real — as real as the virtual world would allow. But after almost two years of classes conducted in front of a screen, with students digitally participating, it comes as a breath of fresh, COVID-free air that the Department of Education (DepEd) is now considering more schools for face-to-face classes. 

Since November 2021, the DepEd has given permission for a number of schools to welcome students back into the four walls of a classroom. This setup was briefly halted in January of this year by the unexpected surge in COVID cases brought by the virus’ omicron variant. As of February, however, there have been around 1,700 schools implementing a face-to-face setup, according to the DepEd Sec. Leonor Briones. She added that some 6,213 schools all over the Philippines are now ready to conduct in-person classes now that an Alert Level 1 status has been implemented in the National Capital Region as well as in other parts of the country. Moreover, the ongoing vaccination of children ages five to 11 has definitely contributed to the more relaxed attitude toward schools and the conduct of classes. 

It truly is the way to go. In many other countries around the world, face-to-face classes have since been conducted as early as the first couple of quarters in 2021. While that, in itself, was experimental at best—an adjective one would not have considered to describe face-to-face classes prior to the pandemic—there is no denying that a year or so of classes behind screens has had detrimental effects on learners, particularly on children who are in their more formative years. There is no replacing actual physical interaction among students, although many schools have tried quite hard to remedy the situation. Some resorted to creativity with their Physical Education classes and others even considered creating a semblance of normalcy by encouraging their students to digitally interact with their classmates. 

After almost two years of living in a pandemic, one that some experts are saying is already on the verge of dying down, it is safe to assume that face-to-face classes can no longer be put on the backburner. This, of course, does not mean that every precaution that is necessary to ensure the safety of both educators and learners should be neglected. Despite the high vaccination rate among the DepEd personnel and teachers, and now with more students getting inoculated, a degree of safety should still be practiced—the wearing of face masks, for example, should be strictly enforced.

As parents welcome this move to a new normal in education, it is perhaps the students, especially the younger learners, who are most excited to see their friends again, this time for real. After all, if guidelines allow for children to go out to malls and restaurants, why shouldn’t they be given the chance to learn at the comfort of a classroom once again? 

P977.48 M allotted for progressive expansion of face-to-face classes — DepEd

by Merlina Hernando-Malipot, Manila Bulletin

The Department of Education (DepEd) has approved the allocation of funding to help ensure that participating schools in the progressive expansion of face-to-face classes would be able to respond to emerging needs.

During the Laging Handa briefing on Wednesday, March 2, Education Secretary Leonor Briones said that DepEd will be spending close to P1 billion to “strengthen the progressive expansion for the schools.”

In the same briefing, DepEd Undersecretary for Finance Annalyn Sevilla said that DepEd has already met with the concerned regional directors to discuss the funds that might be needed in preparation for the implementation of progressive face-to-face classes in their respective areas.

 

“Marami po sa mga pondo na atin pong pinaghahandaan ay iyong pong physical arrangements ng eskuwelahan – iyon pong protection and safety ng mga learners at mga guro at siyempre po iyong mga learning resources na kailangan natin. (Part of the funds we are preparing is for the physical arrangements of the school to ensure the protection and safety of learners and teachers and of course, for the learning resources that we need),” Sevilla said.

Based on the data obtained by Manila Bulletin provided by Sevilla, a total of P977,477,000 was allotted for participating schools under the school Maintenance and Other Operating Expenses (MOOE).

Of this amount, P531.36 million will be allocated to elementary schools (Kinder to Grade 6); P303.63 million will be given to Junior High School (Grade 7 to Grade 10); and P142.49 million for Senior High School (Grade 11 to Grade 12).

DepEd said that these amounts are to be downloaded or to be released to the Regional Offices.

“The Regional Directors are authorized to allocate the said amounts among schools considering the implementation status of face-to-face classes in their respective regions,” DepEd said.

DepEd noted 4.24 percent or P41.48 million of the total available funds “shall be retained in the Central Office as a contingency fund.”

Meanwhile, DepEd clarified that the use of the said funds shall also be subject to existing budgeting, accounting, auditing, and procurement rules and regulations.

Thus, in “no case shall these funds be used” for procurement of tangible items beyond the capitalization threshold; hiring of contractual or casual employees, whose salaries and other compensation benefits should be charged against Personnel Services allocations; and payment of other Capital Outlay items such as infrastructure projects.

DepEd said that its Budget Division is preparing the Sub-Allotment Release Order (AROs) to be downloaded to the respective Regional Offices. The target date of downloading to Regions is on March 4.