BusinessMirror PHL DEBT TRANSPARENCY RISES IN GLOBAL REPORT

By Cai U. Ordinario @caiordinario

THE country’s debt transparency ranking shot up nine notches in the 2023 IR (Investor Relations) and Debt

Transparency Report of the Institute of International Finance (IIF), according to the Bangko Sentral ng Pilipinas (BSP).

I n a statement, BSP said the country’s ranking improved to 3rd out of 41 in just one year. Last year, the country ranked 12th overall.

T he country scored 47.8 points out of 50 points. With an increase of 6.4 points from a score of 41.4 in 2022, the Philippines registered the most improved score among the top 10 countries on the list.

“ This makes the Philippines’ IR practices among the best in the 41 emerging markets and developing countries assessed by IIF and indicates the country’s effectiveness in engaging investors and transparency in giving public access to macroeconomic and environment, social, and governance [ESG] data and policy information,” BSP said.

T he Philippines follows Indonesia at 48.4 (1st) and Turkey at 48.3 (2nd), and precedes Colombia at 47.5 (4th) and Brazil at 45.5 (5th).

T he BSP said the country’s performance improved based on the BSP Investor Relations Group webpage that now features ESG information in response to investors’ growing interest in the Philippine government’s ESG agenda.

O ther areas include the dissemination of macroeconomic data; the dissemination of ESG data and policy information; and feedback and communication channels.

“ The IIF assessment highlights the success of the Philippines in communicating the strength and resilience of the country’s macroeconomic fundamentals and the continuity of sound structural reforms to investors and other stakeholders,” former BSP Governor Felipe M. Medalla said in a statement over the weekend.

PAPAL VISITS, POPEMOBILE, IN CATHEDRAL EXHIBIT

By Eunice A. Reyes

MEMORIES are often vague. We might remember details, or small parts of these memories, but as time goes on, we often forget.

S ouvenirs and memorabilia are objects that represent a certain memory, helping us remember every single fragment of an event. The small exhibit that opened last week at Manila Cathedral, titled, “The Popes in the Philippines,” is a Papal Visit Memorabilia Exhibit. But more than that, it is enough reason to warm the hearts of Filipinos, especially Catholics, who have followed with love the visiting popes everywhere they went.

T he opening of the exhibit was officiated by the Papal Nuncio, Archbishop Charles John Brown; with Jose Cardinal Advincula, the Archbishop of Manila; and Msgr. Rolly Dela Cruz, Rector of the Manila Cathedral. The opening was capped by the celebration of holy mass.

T he exhibit, indeed, abounds with warm memories, comprising photos and memorabilia during the visits of various popes, the last of which was in 2015 by the current one, Pope Francis.

I n that most recent visit, one item that drew most interest was the vehicle used by Pope Francis, or the Pope Mobile.There are, in all, three Popes who graciously blessed our country with their visit; let us look back at them one by one.

Pope Paul VI was the first ever pope to visit the Philippines, in 1970. It was a very fortunate event, but marred by unfortunate circumstances. He had then just disembarked from a chartered plane at Manila airport when Benjamin Mendoza, a Bolivian surrealist painter who was disguised as a priest, stabbed the pope twice. Luckily, he was immediately subdued and arrested. Pope Paul VI survived his wounds, and went on his trip as planned. At the exhibit, there were archival photos of his Papal Visit, showcasing a wellattended Eucharist celebrated by the pope himself.

T he second pope who went to our country, this time on an official Vatican visit, was Pope John Paul II. He arrived on February 17 of 1981.

H is visit was short yet very meaningful to Filipinos. Some of the archival photos from his visit may be seen at on the Manila Cathedral exhibit. Pope John Paul II actually revisited during World Youth Day 1995, where he attracted one of the largest crowds ever at a papal event—over 4 million people. One can see at the exhibit the chasuble he used during his second visit.

T he most recent papal visit was in 2015, wherein the record for 4 million people in attendance was broken. The last mass Pope Francis conducted gathered almost 6 million people on Luneta Park, and

Stakeholders, TPB shut out of new tourism drive decision

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

THE Department of Tourism (DOT) claims no public funds have been paid to its advertising agency, DDB Philippines Inc., for the carrier video of its “Love the Philippines” brand campaign. The video is now being pilloried in social media for using stock footage of places and activities not shot in the country.

T his developed as tourism stakeholders said they weren’t actually consulted before the new slogan and “enhanced” campaign was presented to the public, a commitment previously made to them by Tourism Secretary Christina Garcia Frasco.

was to be called “the largest papal gathering in history.”

“Lolo Kiko,” as he was fondly called by the faithful, was loved by Filipinos all over the country. He visited Manila, Tacloban, and Palo, Leyte.

A t the exhibit, the chalice he used, as well as the golden medal which he bestowed as a gift, are on display. Pope Francis actually gave us a chalice, as a token of gratitude for the warm welcome he received during his stay at the Philippines. It is safely stored at the exhibit, together with all the other objects he used during his visit.

Popemobile, big attraction

AT the exhibit, what most awed the people was the vehicle used by Pope Francis during his recent visit. The “Popemobile” is a specially designed vehicle for the Pope to use during his parade, allowing him to be more visible and safe, while greeting the crowd.

S eparate interviews with those who attended a DOT event with stakeholders on June 21, where the slogan was unveiled, said the agency didn’t ask for their feedback. “The presentation on June 21 was called a ‘launch.’ It was not a consultation,” said one tourism leader who spoke on background. There was no prior discussion/ consultation on this. First we heard of it [on June 21] and it looked like it was ready and poised for the Big Reveal on June 27 [the public launch],” said another industry veteran, speaking on condition of anonymity.

‘Not shot in the PHL’ EVEN the DOT’s own marketing arm, the Tourism Promotions Board, was left out of the decision-making process in the bidding, awarding, and pitching for the branding campaign, in reversal of previous practice. Insiders noted that the slogan and its logo were only showed to the TPB “last week” (the week of June 18), right before the public launch.

O ver the weekend, some netizens, including a popular Duterte administration influencer, alleged that DDB’s rider video for the “Love the Philippines” launch used several stock footage shot in Thailand, Indonesia, and Dubai to depict fishing in the Philippines, the Banaue Rice Terraces, and the sand dunes in Ilocos.