PH books $3.1-B BOP surplus in January, gross reserves up

The Philippines booked a $3.1 billion balance of payments (BOP) surplus in January 2023, the Bangko Sentral ng Pilipinas said on Monday.

The BSP said this was a reversal of the $102 million BOP deficit recorded in the same month last year.

“The BOP surplus in January 2023 reflected inflows arising mainly from the National Government’s (NG) net foreign currency deposits with the BSP, which include proceeds from its issuance of ROP Global Bonds, and net income from the BSP’s investments abroad,” the central bank said.

Following the BOP surplus, the country’s gross international reserves climbed to $100.7 billion as of end-January 2023 from $96.1 billion as of end-December 2022, the BSP said.

The latest GIR level is equivalent to 7.6 months’ worth of imports of goods and payments of services and primary income. It is also about 6.2 times the country’s short-term external debt based on original maturity and 4.1 times based on residual maturity, the BSP said.

“It is a mistake to look too far ahead. Only one link in the chain of destiny can be handled at a time.” - WINSTON CHURCHILL.

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It has been - what - 37 years to this date that the 1986 constitution remains as it was.

No amendments, no reforms and untouched.

Although several past administrations attempted to introduce constitutional changes, they resulted in futile exercises and all came up short of their respective targets.

The 2007 People’s Initiative of the GMA regime almost made it through but failed with just one affirmative vote short to lose 7-8 in the Supreme Court.

Today, public discussions and intelligent debate in the committee on constitutional changes chaired by former law dean and now Cagayan de Oro Rep. Rufus Rodriguez are gaining ground.

I am inclined to think that our lawmakers are beginning to realize that the pandemic

FRED C. LUMBA SPECKS OF LIFE

DANCING THE CHA-CHA - AGAIN?

and the disastrous two-year lockdowns have brought economic collapse that needed immediate resolution.

Sure, the administration of PBBM has opened up our doors but the slow flow of foreign direct investments and other domestic issues appear to dampen our vision and impede progress.

(That is why PBBM continues to travel around the globe to make sales pitches for our country.)

We are fortunate to know that former (ret.) Chief Justice Reynato Puno is one of the most active voices taking part in the committee hearings.

I suppose more legal minds, business and economic experts should participate and contribute their two cents worth considering that the central pointif I may - of the charter changes focuses on the economy.

The heartening development is that Rodriguez has made assurance that the committee hearings will pass the Cha-Cha proposal that will decide on whether the conduct of the amendments will be through a Con-Con (constitu- tional convention) or Con-Ass (constituent assembly).

There are sectors who are more concerned about the billions of taxpayers’ money that will be spent for the exercise than the quality of finished work.

Why should that be an issue if the main objective is to craft a fundamental law that will benefit the country and its people as well as endure the test of time?

Shouldn’t this exercise to amend the constitution be the work of professional minds, expert hands and adept economists so that the country will not go through another rambunctious period where politics always rears its ugly head to derail it?

Every nation on this planet has suffered accordingly due to the pandemic. There is a war dragging on thousands of miles away from our shores but the conflict has affected us in a sort of way.

Global inflation and soaring of prices of commodities are difficult to manage and handle when the hands of the administration are tied.

ANTONIO V. FIGUEROA FAST BACKWARD

Reports of atrocities, some of them part propaganda, have found space in numerous for-eign publications during World War II. In the Philippines, the exchange of verbal and printed rhubarbs was intense between the Japanese profile-raising apparatuses and the Allied public-ity machine. Knowing which paper carries the story exposes the identity of the publication.

One of the most active publications during the war was the Syonan Shimbun (Shonan Times), dubbed as ‘Singapore’s wartime newspaper’ (1942-45). Not only did the periodical carry fantastic narratives of wartime abuses, it also published stories with indisputable Japa-nese intent.

For instance, in its September 30, 1942, issue, it carried an article (‘Nippon intern- ees Mas-sacred In Davao’) about an incident that took place nine months earlier in Davao. The source was Saburo Ogawa, vice president of the Davao Japanese Association and the story was written by a correspondent for Domei, a Japanese wire agency.

The highlight of the story is the supposed butcher of nearly 60 Japanese nationals by U.S. forces. No mention, however, of the place where the incident took place. The report went on to claim the Filipinos were unharmed while twenty Japanese ‘returnees,’ including women and kids, were massacred on December 19, 1941, a day before the Imperial troops set foot in Davao.

Ogawa added that the next morning the US troops were again on a rampage, killing nine men at the manager’s residence of the Osaka Trad-

However resilient Pinoys can be, thirty seven years of stagnant existence and under-development are far too much and too long for Filipinos to endure.

We need creative, intelligent minds. Listen to CJ Puno’s suggestions.

He said a hybrid of a Concon or a Con-ass with a mixture of participation from the executive branch, legislature, business and economics should compose the body tasked to amend the charter.

The form of government should be parliamentary.

I am not sure if I heard him include the judicial branch of which i am in favor.

Retired and able justices of the Supreme Court should be appointed as participants in the task of constitutional reforms.

In a sense, I see Puno’s point of view. And that is to lessen and minimize politicking within.

Rodriguez opines that within this year, the HoR (House of Representatives) and the Senate may be able to come to an agreement whether it will be a

Con-con or a Con-ass. Well and good.

At least, there is now a timetable to keep watch on.

This is developing even if PBBM did not make charter change an integral part of his 2022 presidential campaign.

I guess the good congressman from CDO has himself realized a felt great need for the country.

The oppositors to the constitutional amendments belong to the Cory Aquino group and the yellow party who strongly believe the ‘86 Charter need no amendments.

My feeling is that they are scared stiff to lose political clout if their roots are shaken to the ground.

This motive is selfish and the attitude is negative.

Puno is unselfishly lending his expertise in a nationalistic manner. If others in his capacity don’t care about the country’s welfare, he is ready to give himself and his time.

Indeed, it is a tough job separating the chaff from the grain. (Email feedback to fredlumba@yahoo.com.) GOD BLESS THE PHILIPPINES!

AMERICAN ‘ATROCITIES’ IN DAVAO

ing Company. That same day, two more Nippon-zin were supposedly ‘murdered’ inside a US military barracks. Again, no mention of where exactly the twin atrocities were consummated—and how.

Further embellishing his narratives, Ogawa said that on December 23, 1941, twelve Nip-pon-zin were killed in the mountain of Malita, Davao Occidental, while several others met the same fate in the American hands in Digos City.

Another hoopla story (‘Davao Internment Camp Atrocity, Hero Remembered’) from the same paper is dated May 3, 1943, and relates of an incident that took place nearly six months earlier in an internment camp in Davao. It involved the supposed scalding of a Japanese by US soldiers. The report, filed on April 23, 1943, goes:

“Memorial services were held at Honganji Temple here this afternoon for Shigemi Nakajima who was scalded to death by American soldiers at Davao internment camp on Dec. 20, 1942, when he frustrated the American plans to poison 16,000 Nippon internees there.

“The American soldiers on guard duty upon learning that Nippon forces had landed on the Philippines were driven mad and planned to poison the Nippon internees in the camp.

“How Nakajima learned of the devilish plan of the Americans is not yet known but he immediately warned the internees, just in time.

“Afterwards he was seized by the American soldiers and scalded to death together with other Nippon residents.

“The memorial services were attended by many people including Nakajima’s parents who came from Nara Prefecture.

“It will be recalled, atrocities committed against Nippon residents in Davao were admit-ted by Major-General William Prechter, former commander-in-chief of the American and Fil-ipino forces in Visayas and Mindanao districts.”

The narrative, to a seasoned scribe, is shot with holes, particularly the camp’s location and the implausible reason for committing the assumed atrocity. As for the abuses done by Allied troops, it was a suitable coverup for the widespread brutality pulled by the Japanese against the civilians.

Finally, the report was aimed at the global readers, not the Filipinos.

SECURITY... FROM 2

will need further augmentation to be successfully replicated this year by expanding its Culture of Security campaign with the help of the education sector, as well as strengthening the city’s border control by adding more detachments and checkpoints.

Comia said that this year, the city’s security culture will target students in grade school and high school to teach them how important it is to have engaged citizens to keep the city’s peace and order.

Meanwhile, Sumagaysay said that the best thing to look at is the response units like the DCPO and the TF Davao through the conduct of simulation exercises.

An unannounced simulation exercise was conducted on February 20, 2023 aiming to bolster Davao City’s Culture of Security “May Nakita, Dapat Magsalita” campaign.

The simulation exercise, which was held at the Roxas Night Market and Nova Food Park in Nova Tierra, also aims to determine the readiness of the city’s security cluster, the city government of Davao, and the Dabawenyos.

The activity was executed with two scenarios: an abandoned motorcycle in Roxas Night Market and an explosion in Nova Tierra.

“Didto sa Roxas Night

DTI... FROM 4

nga natagaan og pagtagad ang mga kababayen-an sa among tribo nga mapili ani nga proyekto. Pinaagi sa mga trainings nga gihatag sa DTI-DCFO kami makapadayon na makahimo og produkto nga may kalidad ug makahatag og panginabuhi para sa among pamilya (Immense gratitude for giv-

MMDA... FROM 2

GLOBALPORT... FROM 3

Market kunuhay adunay unattended na motorsiklo nga gibiyaan but na cordon ni siya kay na report sa atong authorities ug na secure ang area. Sa Nova Tierra ang scenario kunuhay adunay explosion,” said Harvey Lanticse, officer-in-charge of the City Information Office (CIO) over Davao City Disaster Radio (DCDR) on Monday.

Lanticse reiterated that the simex is part of the city’s Culture of Security campaign in case untoward incidents will happen in the city.

“We test the capabilities of the security cluster at the same time ang atoang LGU ug atong mga katawhan.

Kani siya nga simex was unannounced. Ngano dili gina-announce? Kay para murag realistic ang atong exercise. Dili man pud gyud nato ni mahibaw-an kung gani mahitabo ni puhon ang atong ingon ani nga insidente,” he said.

Last year, the city government of Davao and TF Davao conducted a series of unannounced Culture of Security simex.

Comia described the simulation exercises as successful.

He also said that with the said simulation exercises, he believed that the city can address the situation at hand with coordination and collaboration with all agencies.

ing the women of our tribe the attention and for choosing us to be part of this project. Through the training interventions of DTI-DCFO, we will be able to make high-quality products and provide livelihood to our families),” Laglagan said.

New Zealand Ambassador Peter Kell hopes that areas are really congested, especially in signal light intersections so, as I have said if there is traffic congestion in a place it means that place is progressing because that is linked to development),” Recio said.

“Kaya kailangan na nating gumuwa ng paraan so gawan natin ng traffic management plan itong Davao City para hindi siya matulad sa Manila na kumbaga ngayon pa tayo kikilos eh andiyan na (That is why we need to find a way so we will craft a traffic management plan for Davao City so it will not become just like Manila where the problems are already there but we’re trying to solve them just now),” she added.

Traffic engineering, traffic enforcement and traffic education are the three central disciplines in traffic management that will be assessed in the five-day program.

NEDA... FROM 4

it said.

While RCEP reduces tariff of some goods, it also increased the tariff on sensitive products or even excluded from the concessions.

“Joining RCEP will enhance our market access for key agri-based exports, as partner countries agreed to lower tariff rates on Philippine exports. Non-participation or delayed RCEP ratification may result in foregone opportunities. We aim to promote great- this project, which is in its final phase, will continue even after it ends in March this year.

Aside from the capacity-building seminars, the NZ Embassy in the Phil-

“As of now, we need help from other advanced cities, just like in Metro Manila, considering we need a traffic management plan. I requested the MMDA to help us na makita kung unsa ang kailangan sa Davao. So with that, kung unsa ilang data og ilang recommendation, i-adopt nato (I requested MMDA to help us figure out what we have to do in Davao. So with that, whatever they find in their studies and their recommendations, we will adopt),” said CTTMO head Dionisio Abude.

The CTTMO chief added that their office has recommended 10 areas with the most traffic congestion to be subject for the MMDA-led study: Matina Crossing, Catalunan Grande, C.P. Garcia, Sandawa intersection, Quirino-Pichon, Quirino-Ponciano, San Pedro-Quirino, McArthur Highway—Maa, Panacan and Malagamot. CIO er openness, create a business-friendly environment, and provide a more stable and predictable system of trade,” Balisacan added.

The Philippines is one of the 15 countries that signed the RCEP in 2020, but it is the only nation that has yet to concur RCEP’s ratification.

Its concurrence is still being discussed in the Senate. The trade deal has entered into force since Jan. 1, 2021. (PNA) ippines also provided the beneficiaries with laptops, wi-fi devices, and other resources, including raw materials to ensure the sustainability of the project.

DTI-DCFO/LTC/jmm

118 Series of 2014, the Davao (Sasa) Port Modernization Project is expected to provide a dedicated containerized port, facilitating trade with Mindanao and the Philippines; support the developing agro-modern area; through the creation of a financially sound PPP scheme, contribute to the creation of an environment that is conducive to and serves as a model for private sector participation in port infrastructure; and

VMO... FROM 3

monthly monitoring of weight for our children and distribution of milk packs for them to drink every week,” Quitain said.

Launched in November last year, the program will run for 180 days or until April 2023 and this is to ensure that the children’s weight has im-

DAVAO... FROM 5

Ambi said that the SSF team visited the facility on January 26 during the training for the equipment’s operation. This was conducted together with the machine operator and representatives from PWC and the Department of Science and Technology (DOST).

“This facility is meant to address the MSMEs’ problem with poor packaging and labeling,” the regional trade chief explained.

The DTI officials, as well as the FPIC and PWC heads, are expected to gather for the launching and signing of agreements.

On the other hand, the three remaining projects to be launched this year are the addendum to the cacao processing projects of the Kapalong Cooperative and Sambayon Small Coconut Farmers Associ-

SMALL... FROM 4

first),” he added. Under the law, Herrero said a small business can secure up to 10 times the amount it has shared in the cooperative.

But if it is not able to secure an endorsement, the CSF will provide up to five times cover so that a bank will extend a loan to a small business, he said.

Aside from securing a sure financing, Herrero

FITCH... FROM 5

higher inflation such as increases in utility prices and wages, “will remain a key source of upside price pressure.”

It said food inflation is also expected to register further hikes given the impact of weather-related disturbances on supplies.

Fitch Solutions thus revised up its average inflation projection for this year from 5.4 percent to 6.5 percent and expects boost economic activity in Mindanao and the region. The Sasa Port project is one of Mindanao’s most important infrastructure projects, according to the RDC. Both the main gateways in the region — Sasa Port and the Davao International Airport — need significant upgrades. These upgrades are anticipated to boost the economic development of the region as well as the physical connectivity of the region. proved. This is in partnership with Unilever Philippines and Kabisig ng Kalahi. VMO also teamed up with the City Health Office (CHO), City Social Welfare and Development Office (CSWDO), and the City Mayor’s Office (CMO). By Maya

M. Padillo

ation in Davao del Norte, and the addendum to the garment enhancement project of Nagkahiusang Mananahi sa Camucaan Association (NMCA) in Davao del Sur.

“With all the successes achieved by the MSMEs in the region, we at DTI 11 are committed to assisting them. Thus, the SSF team is set to do periodic monitoring of the existing projects in Davao City and in the five provinces in February and March,” she said, adding that this measure is to evaluate project implementation including the development of their respective database, validate the cooperators’ reports, and monitor the facilities’ condition facilities to identify the potential problems so that appropriate actions may be undertaken immediately.

DTI11/MVB/jmm said a cooperative accredited by the CDA for the CSF will have tax exemption, which will then benefit its members.

He said there are two qualifications that cooperatives must have to become part of CSF cooperative –well capitalized and well-managed.

Herrero said cooperatives must have certificate of compliance. (PNA) monthly inflation figure to remain at around 4 percent throughout the year.

It said this projection is in line with that of the BSP, which sees the average inflation this year at 6.1 percent.

This is way above the government’s 2 to 4 percent target but it is expected to decelerate to within-target levels by 2024 with an average of 3.1 percent. (PNA)